Building permits, housing starts and housing completions were all down in June, with high construction costs and mortgage rates to blame.

Single-family building permits decreased 4.8% in March, while overall permits increased by less than 1%.

While 2021 saw housing starts rise 15% compared to the previous year, new data from the U.S. Census Bureau shows sales softened in February.

NAHB data shows single-family housing construction peaked in Q2 2021 and is declining in large metro and suburban areas as much as 31%.

U.S. Census Bureau reports overall 1.6 million housing starts in 2021, including 1.12 single-family homes and 530,000 MDUs.