FYI: After a weaker than expected reading on home builder sentiment to kick off the week, data on Housing Starts and Building Permits for the month of January came in mixed with a negative bias. As shown in the table to the right, starts missed by 74K on a seasonally adjusted annualized rate, while permits came in slightly higher than expected. For both reports, though, we would note that December’s readings were revised lower.
The charts below show historical levels of Housing Starts and Building Permits since 2005, and for both series, current levels are off their cycle highs from last summer. That being said, on a 12-month average basis both series hit new cycle highs this month.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/mixed-housing-data-following-weaker-home-builder-sentiment/
