February’s housing start numbers have been disappointing for the housing market. Housing starts fell last month by 10.3% to a seasonally adjusted annual rate of 1.42 million units, according to the U.S. Census Bureau. As house prices appreciation has accelerated across the country since Q3 of 2020, many saw an increase in new home supply as a possible cure for looming affordability issues, especially in frothy suburban markets. February’s housing starts may tell us that home builders aren’t riding in to save the day anytime soon. ...
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