KEY POINTS
  • Building permits, an indicator of future construction, fell more than expected to the lowest since August.
  • Mortgage applications to purchase a newly built home dropped nearly 24% in June year over year.
  • The median price of a newly built home in May was up 18% compared with May 2020.
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021.

There are several signs in the market for newly built homes that point to a potential slowdown for the nation's homebuilders.

Data released Tuesday added to the evidence that builders are pulling back.