General World News

Homebuilders are pushing through inventory backlog

As the housing market slowed from its frenzied peak in 2022 due to soaring mortgage rates, homebuilders pulled back. An estimated of 1.533 million housing units were started in 2022, down 3.0% compared to 2021, according to a report released Thursday by U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Homebuilders closed out 2022 with an annual housing start rate of 1.382 million units in December, down 1.4% compared to November and down 21.8% year over year.

These decreases came even as details ⇒

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