Laserfiche WebLink
Source: US Department of Commerce Source: S&P <br />Housing <br />0 <br />200 <br />400 <br />600 <br />800 <br />1000 <br />1200 <br />1400 <br />1600 <br />1800 <br />2000 <br />MOM Change (In Thousands of Units)Housing Starts <br />Multi Family Housing Starts <br />Single Family Housing Starts <br />-2.0% <br />0.0% <br />2.0% <br />4.0% <br />6.0% <br />8.0% <br />10.0% <br />12.0% <br />14.0% <br />16.0% <br />18.0% <br />20.0% <br />22.0% <br />24.0% <br />S&P/Case -Shiller 20 City Composite Home Price Index YOY( %) ChangeTotal housing starts rose 2.2%month-over-month in April to 1,401,000 units from a downwardly revised 1,371,000 in March and were down <br />22.3%compared to April 2022.Both single-family and mulit-family construction increased as the low supply of existing inventory drove higher <br />builderconfidence.The 30-year fixed rate mortgage averaged approximately 6.57%in mid-May according to Freddie Mac,down from a peak of <br />7.08%in October,but up over 100 basis points from a year ago.According to the Case-Shiller 20-City Home Price Index, housing prices <br />declined -1.15%in March,after rising +0.36%in February,clearly displaying the impact of higher mortgage rates year-over-year,which have <br />reduced demand for homebuying as affordability has declined.The Southeast remains the strongest region,while the West continues to be <br />the weakest. <br />8