U.S. housing starts decline due to a sharp drop in the multi-family sector

Golden Ten Data reported on June 16 that Oxford Economics stated in a report that the decline in US new housing starts in May was mainly due to a 40% decrease in new housing starts in the multi-family sector. Based on building permit data, this sector may see a certain degree of rebound in June. Looking ahead, Oxford Economics expects that due to a loosening of Federal Reserve policy, new housing starts will move sideways before later this year. They stated: "Homebuilders will need to work through part of the single-family housing inventory—which accounts for more than two-thirds of new housing starts—before significantly increasing building activity."