The real estate market is active, with new housing starts recording the largest monthly increase in 16 years📈📈

Strong new housing starts data welcomed the U.S. market's return from the holidays. New housing starts surged 21.7% to 1.631 million units in May, which was much higher than market expectations and was the largest monthly increase since 2016. Single-family homes increased by 18.5%. Multifamily housing surged 27.1%; although we have mentioned the strength of the U.S. consumer and residential markets in previous comments, considering that 30-year mortgage rates are still hovering at 20-year highs around 7%, the current The real estate market continues to be incredibly buoyant.