New home construction surges in May could cool housing inflation

New home construction soared past expectations last month amid ongoing inventory challenges in the resale market.  High mortgage rates, fueled by the Federal Reserve’s interest rate hikes, are drastically reducing already limited housing stock as potential sellers are choosing to stay put instead of risking a higher rate on a new purchase.  But builders are…
New home construction soared past expectations last month amid ongoing inventory challenges in the resale market.  High mortgage rates, fueled by the Federal Reserve’s interest rate hikes, are drastically reducing already limited housing stock as potential sellers are choosing to stay put instead of risking a higher rate on a new purchase.  But builders are…

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