HousingWire Daily New construction update: Housing starts and homebuilder confidence
8 snips
Feb 19, 2026 
Logan Mohtashami, Lead Analyst at HousingWire known for data-driven housing market analysis. He explains why a construction boom is unlikely. Short-term starts hide a decade of stagnation. New building concentrates in the Sunbelt. Builders face excess completed units and shifting incentives that limit new construction.
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Construction Stuck In A Long Flat Channel
- U.S. housing construction has been stuck in a low, decade-long channel despite occasional monthly spikes.
- Logan Mohtashami argues this reflects structural change, not a temporary lull in building activity.
Builders Vs. A Massive Existing Housing Stock
- Builders are constrained by a mature economy with slowing population growth and heavy existing-stock competition.
- Mohtashami says homebuilders won't act like a national supply engine because they must protect profits against a vast existing housing base.
Completed Inventory Keeps Builders Cautious
- Builders hold sizable completed-for-sale inventories that temper new construction urgency.
- That inventory cushion makes builders cautious about adding lots of new starts until sales prove sustainable.