New housing data shows the market slowing sharply, with housing starts—new homes that builders begin constructing—falling more than 15% in May, the largest monthly decline in years and the slowest pace since the pandemic. Builders point to persistently high mortgage rates as a key reason for pulling back. To help break down what this means for buyers, sellers, builders, and renters, Alicia Summers with Suzanne Porske, founder of Phoenix Financial Group. Suzanne explained what’s driving builder caution, how the ongoing “lock-in effect” is keeping many homeowners from selling, who stands to benefit or lose in the current market, and what Americans should consider if they’re thinking about buying, building, or selling a home. She says the bigger issue is whether families can still build wealth and achieve the American Dream through homeownership.
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