The surprisingly large decline in the pace of housing starts comes as builder sentiment remains depressed by tariff worries and high prices. 

The pace of new-home construction was higher than economists expected, even as homebuilders expressed concern about the impact of tariffs and supply-side challenges. 

At the same time, the median sales price for a new home hit its highest level since 2022, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.   

At the same time, builder sales expectations for the next six months posted their second-largest drop since the sentiment index started in 1985. 

What exactly goes into homebuilding costs, and how do those costs translate to profits for builders — and home prices for buyers?

The median-sales price slid from $425,600 in October to $402,600 last month. 

Multifamily construction, meanwhile, rose on a monthly basis. 

New-home prices, meanwhile, were mixed among the state’s largest cities, according to the latest report from HomesUSA. 

The median price of a new home sold during the month was also up, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

The NRP Group and the JPS Health Network are developing Thrive on Crawford together. 

Multifamily starts, meanwhile, declined, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.    

The developer, the Steinbridge Group, has committed to helping historically Black colleges and universities and other community institutions develop underutilized real estate.

The homebuilder will build larger, more open floor plans on a variety of lot sizes in high-growth communities. 

Belle Meadows comprises 33 single-family homes priced from the low $400,000s. 

The 716,000 per-year rate of new-home sales topped the consensus estimate of 700,000. 

The Fielder will bring 288 affordable apartments to the community.