U.S. home builder sentiment chirpy, near multi-year highs Just a matter of time before sentiment follows home sales/starts lower Stocks follow builder sentiment; ITB perilously close to breaking crucial support Hope springs eternal. U.S. home builders are an optimistic bunch. … Continued
On a day when we are enjoying the blockbuster 3Q GDP numbers comes another data point that points to continued sluggishness in U.S. housing. Yesterday, existing home sales disappointed. Sales were lowest since May this year. I even heard one … Continued
US housing starts were a real downer in August, down 14 percent month-over-month, to 956k. Multi-family really took it on the chin, down 32 percent (304k), even as single-family relatively fared better, down two percent (643k). Monthly data tend to … Continued
There was a lot of excitement last week when housing starts/building permits data were released for July. Starts surged 15.7 percent month-over-month and 21.7 percent year-over-year to 1.1mn units (seasonally adjusted annual rate). Multi-family (five units or more) easily outran … Continued