Housing Starts Disappoint Dramatically, Fall Year-Over-Year

After Housing Starts collapsed 12.9% in June, July rebounded just 0.9% (dramatically missing expectations of a 7.4% bounce) as Permits rose 1.5% month over month.


A second month in a row with a massive miss to economists’ expectations…


Single-family starts remain very soft and multi-family starts barely rebound at all from June’s crash…


And housing starts are now down year over year for The 2nd month in a row…


Permits rebounded very modestly in both single- and multi-family units…


Two of four regions posted a gain in starts, with the South increasing 10.4 percent and the Midwest climbing by 11.6 percent; the Northeast declined 4 percent and the West plunged 19.6 percent, the biggest drop since January 2017

Finally we note that US home builder stocks have been tracking fundamentals dramatically lower all years…


Time for some more rate-hikes…

Source: ZeroHedge


Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.