{"id":10078,"date":"2023-06-28T12:00:58","date_gmt":"2023-06-28T16:00:58","guid":{"rendered":"https:\/\/www.realtyhop.com\/blog\/?p=10078"},"modified":"2023-06-28T12:01:27","modified_gmt":"2023-06-28T16:01:27","slug":"housing-starts-increase-june-2023","status":"publish","type":"post","link":"https:\/\/www.realtyhop.com\/blog\/housing-starts-increase-june-2023\/","title":{"rendered":"Housing Starts Increase to Highest Amount Since Spring 2022"},"content":{"rendered":"

New housing starts recently reached their highest amount since April 2022, suggesting a more stable housing market that provides increasing opportunities for prospective homebuyers. Housing starts drastically spiked by 21.7% month-over-month from 1.34 million to 1.631 million, according to housing starts data from the U.S. Census<\/a>. Single-family housing starts reached 997,000, increasing 18.5% from April.<\/p>\n

In the fall of 2022, housing started dipping and remained low throughout the new year due to high-interest rates and asking prices. Seasonality also contributes to lower numbers in the winter season. With a growing number of new construction starts, developers showcase their confidence in the market.<\/p>\n

New Housing Sales Increase<\/h2>\n

New housing sales also increased month-over-month and year-over-year, potentially incentivizing developers to take advantage of a hotter market. 683,000<\/a> new homes sold in April 2023, up 11.8% from the previous month and 15.1% from 2022. Homebuyers will even pay higher sales prices for premiums like new appliances and customize their property. With more new homes coming to the market, developers can recoup their building costs and profit from a higher sales price.<\/p>\n

While high-interest rates and sales prices continue to price some buyers out of the market, many continue purchasing homes nationwide. With more new construction starts, available inventory will provide further options for prospective homebuyers.<\/p>\n

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