U.S. Housing Starts Plunge 15.4% In May, Much More Than Expected

The Commerce Department reported another steep drop in new residential construction in the U.S. in May. The update points to weakening housing activity and adds to concerns around the broader real estate backdrop, though the article provides no specific figures. Market impact is likely limited to housing-related names and rate-sensitive sentiment.

Analysis

The Commerce Department reported another steep drop in new residential construction in the U.S. in May. The update points to weakening housing activity and adds to concerns around the broader real estate backdrop, though the article provides no specific figures. Market impact is likely limited to housing-related names and rate-sensitive sentiment.