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A construction slowdown is adding to the US's housing shortages

Seattle, Portland, San Francisco
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In June, housing starts ↓ 2% to 1.56M units. That was driven by ↓ 8.1% in single-family housing construction. With higher mortgage rates, US avg home price ↑ 11.2% yearly to > $430K. Amid housing shortages in the US, an extended slowdown could raise prices even further.

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