Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Housing Starts Tumble In January, Building Permits Hit 16-Year-High

Courtesy of ZeroHedge View original post here.

After December's huge spike in building permits (up a revised higher 9.8% MoM), analysts expect some catch-down in January (-7.2% MoM exp) and a reversion in housing starts from a 1.4% MoM rise in December to a 0.4% MoM drop in January; as homebuilder sentiment faded and homebuyer attitudes remain near record lows.

Reality was very mixed, with housing starts tumbling 4.1% MoM (biggest drop since July) but permits actually rose 0.7% MoM…

Source: Bloomberg

This is the highest level for building permits since May 2006…

Source: Bloomberg

Single-family starts dropped 5.6% MoM from 1.182MM to 1.116MM SAAR, while multi-family starts dropped only 2.1% MoM from 521K to 510K SAAR

Single-family permits rose 6.8% MoM to 1.205MM SAAR (the highest since Jan 2021), but multi-family permits tumbled 8.8% MoM to 628K SAAR (still the third highest SAAR on record).

How much longer can this last given soaring mortgage rates? A recent survey showed a record-low 25% of Americans said now is a good time to purchase a house.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!