Pursuits
Homebuilder Group Lowers Starts Forecast After Rate Jump
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The National Association of Home Builders lowered its forecast for U.S. single-family home starts this year and next as higher interest rates slow the pace of growth in the housing market.
Single-family home starts are expected to be 629,000 this year, lower than an April estimate of 672,000, the Washington-based group said in a report today. In 2014, the total is expected to be 826,000, compared with the prior forecast of 858,000. Work began on about 537,000 houses in 2012.