US single-family housing starts fall

In June 2026, U.S. single-family homebuilding fell for a third consecutive month, with starts slipping 0.2% to a seasonally adjusted annual rate of 895,000 units, according to the United States — United States Census Bureau. Permits for future single-family construction dropped 2.4% to 871,000 units, the lowest since August 2025, weighed down by higher mortgage rates and a glut of unsold new homes. The 30-year fixed mortgage rate averaged 6.55%, an 11-month high, partly due to the U.S.-Iran conflict. Multi-family housing starts surged 76.3% to 513,000 units, boosting overall housing starts 19.0% to 1.427 million units. A separate report showed import prices unexpectedly rose 0.3% in June, with the annual increase of 7.1% the largest since August 2022, driven by AI-related demand for capital goods. The United States — Federal Reserve reported manufacturing output unchanged in June, but factory production grew at a 4.7% annualized rate in Q2. Goldman Sachs raised its Q2 GDP estimate to 2.5%. The housing affordability legislation passed by the United States — United States Congress is expected to take time to boost construction.