New US residential construction declined in May to the slowest pace since the onset of the pandemic as an elevated inventory of homes for sale and high mortgage rates sapped the motivation to build.

Terry Lane is a writer for Investopedia with 25 years of experience in journalism and communications. He covers personal finance, Congress, government regulations, and economics. FREDERIC J. BROWN/AFP ...

The numbers: Construction of new homes fell 6.8% in July compared with the previous month, as builders scaled back new projects. Housing starts fell to a 1.24 million annual pace from 1.33 million in ...