A new house under construction is seen in Alhambra, Calif., on March 19, 2026. Frederic J. Brown/AFP via Getty Images
Housing starts in the United States fell to their lowest level since 2020 as builders grapple with high construction costs and weak demand, while consumers wrestle with elevated mortgage rates and affordability.
Total housing starts, which include single-family homes, apartments, and condominiums, declined by 15.4 percent from April to May to a seasonally adjusted annual rate of 1.18 million housing units, a Census Bureau and Department of Housing and Urban Development report stated on June 16. May’s overall housing starts were 8.7 percent lower than the same month in 2025, with single-family home starts decreasing 1.9 percent from April.
