Tim Henderson

Western and Southeastern states experienced significant GDP growth in the first quarter of 2025, with Washington state rising 4.5% due to an AI boom. North and South Dakota saw large personal income increases from higher oil prices but minimal economic output growth after inflation adjustments. Hawaii faced a 23.9% income decline due to tourism and federal job cuts.

Housing starts in May fell to pandemic levels, reaching an annual rate of 1.17 million, an 8.5% drop since May 2025. Builder confidence has declined due to higher material and financing costs, with significant declines in the South and West, while the Northeast and Midwest saw increases. Housing completions also dropped 14.2% from May 2025, and new permits showed mixed results across regions.

May housing starts in the U.S. fell to their lowest level since the pandemic, with an annual rate of 1.17 million, an 8.5% drop from May 2025. Builder confidence has declined due to higher material and financing costs, threatening housing progress and worsening shortages, particularly in the South and West.

Housing starts in May fell to pandemic levels, with an annual rate of 1.17 million units, an 8.5% drop from May 2025, driven by higher material and financing costs. The South and West saw significant declines, while the Northeast and Midwest reported increases. Builder confidence is waning, threatening progress in addressing housing shortages.

May housing starts fell to the lowest level since the pandemic, with an annual rate of 1.17 million units, an 8.5% drop from May 2025. Builder confidence declined due to higher material and financing costs, with significant regional declines in the South and West.

U.S. housing starts fell to pandemic levels in May, with an annual rate of 1.17 million units, driven by higher material and financing costs. Regional declines were steepest in the South and West, while the Northeast saw a 19% increase. The drop threatens to worsen housing shortages and slow progress in addressing demand.

May housing starts fell to the lowest level since the pandemic, with an 8.5% annual decline and regional drops in the South and West. Builder confidence has declined due to higher material and financing costs, threatening housing shortages and progress in new housing construction.

Housing starts in May fell to the lowest level since the pandemic, with an annual rate of 1.17 million units, driven by higher material and financing costs. The decline was most severe in the South and West, though the Northeast saw a 19% increase. The drop threatens to worsen housing shortages and disrupt progress in meeting housing demand.