United States housing brief, June 2022

Abstract

In June, month-over-month data continued a negative movement in most categories. Year-over-year data indicated some improvement; however, single-family permits and starts decreased again (the fourth consecutive month). This suggests further moderation in single-family activity in the forthcoming months. The impact of increasing borrowing costs combined with rising house prices (though new median/mean declined precipitously in June) have resulted in a major obstacle for new house sales. The increase in borrowing costs has resulted in potential house buyers canceling contracts or postponing a house purchase. June also was the fifth consecutive monthly decrease for existing house sales.

Citation

Alderman, Delton. 2022. United States Housing Brief, June 2022. Research Note FPL-RN-0416. Madison, WI: U.S. Department of Agriculture, Forest Service, Forest Products Laboratory. 6 p. https://doi.org/10.2737/FPL-RN-416.