National housing starts hold steadyNational housing starts hold steadyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=208792018-08-17T05:00:00Z2018-08-17T15:00:00Z

​​​​​​WASHINGTON – ​National housing starts inched up 0.9 percent in July to a seasonally adjusted annual rate of 1.17 million units, according to the U.S. Department of Housing and Urban Development and the Commerce Department.

Some projects are delayed due to cost concerns. The number of single-family units authorized but not started are up 25 percent since July 2017.

“Supply-side challenges including increases in material prices and chronic labor shortages are affecting affordability in many markets,” said National Association of Home Builders Chief Economist Robert Dietz. “However, consumer demand remains strong due to a growing economy and job market and favorable demographics. Moreover, on a year-to-date basis, single-family construction has shown steady progress, up 7.2 percent, while 5+ multifamily production is up 3.4 percent as well.”

Meanwhile, the multifamily sector rose 3 percent to 306,000 starts.

The South​—the region which includes Texas— reported combined single- and multifamily housing starts rose 10.4 percent. ​

National Association of Home Builders
https://www.nahb.org/en/news-and-publications/press-releases/2018/08/housing-starts-hold-their-ground-in-july.aspxRead more at {Source}

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