New-home construction plunges to lowest level since May 2020 - MarketWatch
1. New home construction fell 6.8% in July, lowest since May 2020. 2. Single-family starts declined 14.1%, while multifamily units rose 11.7%. 3. Builders face high financing costs and reduced buyer demand affecting projects. 4. Homebuilder stocks fluctuate; DJIA and broader stocks down slightly. 5. Outlook improves with potential interest rate relief in the housing market.