New home starts drop 13% in Q3, signaling housing sector strain
Data from a warranty and insurance provider show that new home starts fell 13% in the third quarter compared with a year earlier.
According to figures released by a warranty and insurance provider, the number of newly started homes in the third quarter declined by 13% relative to the same period last year. The drop highlights a slowdown in the housing market, which analysts describe as a critical juncture for the industry. No further commentary on causes or future outlook was provided in the report.
Why it matters
A sharp fall in new home starts may signal broader economic slowdown and affect jobs and mortgage markets.
In this story
new home starts13% declinethird quarterhousing industrycritical pointconstruction slowdown
