(Washington, D.C.) -- Housing starts fell another two percent month-over-month in June, as inflation continues to bite.
Homebuilders started construction on just under one-point-56 million units last month, the lowest since April of last year. Single-family starts dropped more than eight percent.
Starts fell in the South and Midwest but up in the Northeast and West. The latest numbers come as prices soar and mortgage rates are on the rise.
Building permits also dropped sixth-tenths of a percent, the third consecutive month of declines.