FYI: Housing data this morning came in mixed as Housing Starts missed expectations while Building Permits exceeded forecasts. As shown in the table to the right, starts came in 35K below consensus forecasts while permits exceeded forecasts by 10K. The table below breaks down today’s report in terms of both regions and size of units.
As far as unit sizes are concerned, both single and multi-family units were just about equally weak in March with both declining between six and eight percent. Building Permits saw more disparate results as single-family permits declined modestly while multi-family units surged over 13%. On a regional basis, the only area of the US where starts increased was in the Northeast. Meanwhile, permits saw a m/m increase in every region except the Midwest.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/housing-starts-miss-forecasts/
