Single-family home construction in the U.S. dropped sharply in June, hitting its lowest level in nearly a year, according to data released Thursday by the U.S. Census Bureau. The decline reflects growing pressure from high mortgage rates, rising costs, and lingering economic uncertainty.
Single-family housing starts fell by 4.6% to a seasonally adjusted annual rate of 883,000 units, the weakest level since July 2024, while building permits for future home construction dropped 3.7% to 866,000 units — the lowest since March 2023. These figures are seen as a strong indicator of a cooling residential construction sector.
