Article source: ConstructConnect
The negative impact of higher interest rates on U.S. housing starts has been dissipating since late summer 2023, culminating in a near normal month for residential groundbreakings in November.
The 1.560 million units (annualized) reported for November was a decent jump upwards from the low point of 1.305 million units in August (see accompanying Graph 1). Furthermore, it was quite close to the ‘equilibrium’ position as set out in Graph 2.
