FILE PHOTO: A carpenter works on building new townhomes that are still under construction while building material supplies are in high demand in Tampa, Florida, U.S., May 5, 2021. REUTERS/Octavio Jones
September 21, 2021
WASHINGTON(Reuters) – U.S. homebuilding increased more than expected in August, likely boosted by an easing in lumber prices, though land and labor shortages remain challenges.
Housing starts advanced 3.9% to a seasonally adjusted annual rate of 1.615 million units last month, the Commerce Department said on Tuesday. Data for July was revised up to a rate of 1.554 million units from the previously reported 1.534 million units.
Economists polled by Reuters had forecast starts rebounding to a rate of 1.555 million units.
(Reporting By Lucia Mutikani; Editing by Andrew Heavens)