Construction Starts Up in October, 'Too Early' to Call it a Trend – Globe St.com
November 18, 2022Jeff Taylor, managing director, Digital Risk, said the primary takeaway from October’s home construction data is that there is a record 1.72m housing units under construction (928k multi-family units and 794k single family units).
“This market dynamic puts buyers in a stronger negotiating position with sellers,” Taylor said. “Buyers also got their first-rate declines of 2022 this past week as a softer October consumer inflation report caused rates to drop from more than 7% to around 6.5%”
