US homebuilding has been impacted by a combination of severe weather conditions and higher mortgage rates. This has led to a slowdown in the construction of new homes in the country.
The adverse weather, including heavy rain and snowfall, has made it difficult for builders to work on construction sites. This has caused delays in the completion of new homes, leading to a decrease in the overall number of housing units being built.
Additionally, the rise in mortgage rates has made it more expensive for potential homebuyers to finance their purchases. This has resulted in fewer people being able to afford to buy a new home, further contributing to the slowdown in the homebuilding industry.
Overall, the housing market in the US is facing challenges due to these factors. It remains to be seen how the industry will adapt to these challenges and whether there will be a rebound in homebuilding activity in the near future.