It is hard to believe, but home builders continue to sell a lot of home despite higher interest rates. Whitestone Homes is experiencing similar demand.
Washington, DCCNN —
US home building increased in July, rising 3.9% from June, as low inventory in the existing home market continued to boost interest in new homes.
Housing starts, a measure of new-home construction, climbed to a seasonally adjusted annual rate of 1.452 million in the month, beating market expectations of 1.448 million, according to data released Wednesday by the Census Bureau.
The number of units started was up 5.9% from July 2022.