Is this the trend? Housing starts decline.
The National Association of Home Builders (NAHB) reports that housing starts for the month of June declined - down a little over 8% over May. The spring months were especially busy, due in part to the low interest rates. And, as interest rates began to climb, many buyers decided to get into the market before the rates went higher!
However, the NAHB reports that it is still expected to be a record year for home starts.
To read the entire press release, please go here.