Construction of new houses across the country dropped 6.5% in May to an annual rate of 1.01 million units, according to a report from the Department of Commerce. Declines have been seen in the construction of single-family and multifamily houses as potential buyers struggle with higher mortgage rates, while builders grapple with a shortage of workers and land.
Trenton H. Cotney
Florida Bar Certified Construction Lawyer
Trent Cotney, P.A.
407 North Howard Avenue
Tampa, FL 33606