Treesearch
United States Housing Brief, May 2022
| Authors: | Delton Alderman |
| Year: | 2022 |
| Type: | Research Note |
| Station: | Forest Products Laboratory |
| DOI: | https://doi.org/10.2737/FPL-RN-415 |
| Source: | FPL-RN-415 |
Download (PDF 1.79 MB): https://research.fs.usda.gov/download/treesearch/64750.pdf
Abstract
May 2022 data softness was concentrated in housing starts and permits, on a month-over-month basis. Year-over-year data indicated an improvement; however, single-family permits were negative again. This marks the third consecutive month of single-family starts and permits declining. This suggests further moderation in single-family activity in the upcoming months. Increased borrowing costs combined with rising house prices resulted in a major setback for new house sales. The number of potential buyers is dwindling quickly, and first-time buyers also are being constrained by increasing interest rates.