Despite high homebuilder confidence, single-family housing starts have lost momentum since the start of the year. A combination of lot and labour shortages, and the high price of materials, is responsible for that disappointing performance. Of those three, labour shortages look to be the most significant constraint, and the hardest one to solve. In turn, that implies the recovery in single-family construction will continue to be very gradual.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services