In their strongest showing since June 2007, housing starts during August rose 12.3% from July to a seasonally adjusted annual rate of 1.36 million. That’s 6.6% above August 2018.
Homebuilders are standing strong in the face of growing economic uncertainties, including the threat of a recession. Their hopefulness is buoyed by the fact that mortgage rates fell again in August, which helps keep would-be homebuyers thirsty for new inventory.
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