https://www.realtor.com/news/real-estate-news/u-s-housing-starts-drop-to-lowest-level-since-june-2020/
New-home construction dropped by 11.3% in August, falling short of expectations as builders shifted their focus from new starts to project completions due to elevated mortgage rates surpassing 7%. The annual pace of housing starts fell to 1.28 million, with single-family home construction posting a 4.3% decline and apartment construction plummeting by 26.3%, according to
How Elevated Mortgage Rates Are Affecting Housing Starts
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