Housing Construction is Collapsing

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Total housing units under construction are declining at an 11% annualized pace as of June.

This is the first sustained contraction in units under construction in the post 2008 period. pic.twitter.com/q7sjmK7aNr

— Eric Basmajian (@EPBResearch) July 17, 2024

Sources:
https://www.nahb.org/news-and-economics/press-releases/2024/06/housing-starts-retreat-in-may
https://eyeonhousing.org/2024/06/housing-starts-retreat-in-may/

h/t Tonight We Ride!

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