According to new data from the U.S. Census Bureau, overall housing starts were down 1.6% in September due in part to a decline in MDU production.

Harvard Joint Center for Housing Studies predicts continued increases in remodeling spending into the coming year.

Supply chain and labor shortages caused housing starts to decrease by 7% overall in July, with single-family starts decreasing 4.5%.

Sales of newly constructed homes are down for the third straight month as builders continue to combat higher construction costs and supply chain restrictions.

Housing starts across the United States have increased as lumber prices start to lower, but other material costs continue to raise the price of completed homes.

Increased cost of building materials coupled with overall housing price increases has lead to a dip in new home sales for May 2021.