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August 20, 2018

Higher costs weigh on homebuilders

  • Lumber prices have shot up by about $7,000 per home since the start of 2017, largely due to tariffs.
    • By JOSH BOAK
    AP Economics Writer

    WASHINGTON — U.S. housing starts ticked up just 0.9 percent in July, a sign that higher construction costs might be weighing on homebuilders.

    The Commerce Department said last week that housing starts last month rose to a seasonally adjusted annual rate of 1.17 million, not nearly enough to reverse the steep 12.9 percent plunge seen in June as rising lumber, land and labor costs appeared to constrain new construction.


     
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