Oxford Economics said U.S. housing starts fell in May mainly because of multifamily
starts dropped 40%. Building permit data points to a partial rebound in that
segment in June. Oxford expects starts to trade sideways until later this year
as the Fed eases policy. "Builders will need to work through some single‑family
inventory — which accounts for more than two‑thirds of housing starts — before
materially ramping up construction activity."
