WASHINGTON—U.S. homebuilding rebounded less than expected from a nine-month low in July, suggesting the housing market was likely to tread water for the rest of this year against the backdrop of rising construction costs and labor shortages.
But the fundamentals for the housing market remain strong. New filings for jobless benefits fell again last week, other data showed on Aug. 16, pointing to sustained labor market strength despite an escalating trade war between the United States and China that has rattled financial markets.
