U.S. Housing Starts Slump on Hurricane Fallout

The video discusses recent housing data, highlighting a significant drop in building permits and housing starts, partly due to hurricanes affecting the southern U.S. regions like Florida and Texas. The discussion includes the impact of natural disasters on housing statistics, regional variations, and the influence of seasonal weather patterns. The forecast for home sales and housing starts has been adjusted downward, with a notable decline in multifamily construction, indicating a potential peak in this sector.

What factors contributed to the weakness in housing data as discussed in the text?

What was the percentage decline in single-family homes in the South mentioned in the text?