FYI: Housing Starts and Building Permits for the month of July were released earlier and showed mixed results relative to expectations. As shown to the right, Housing Starts came in at a level of 1.211 million SAAR units versus expectations for 1.18 million. Building Permits, however, were slightly weaker at a rate of 1.152 million versus estimates of 1.160 million units. As shown in the charts below, Starts are just 2K off their cycle high of 1.213 million units in June of 2015 and February of this year, while Permits are still trying to recover (unsuccessfully) from last summer’s tax-incentivised peak.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/starts-beat-permits-still-weak/
