Strong Housing Starts Report

A very good report on housing starts:

U.S. homebuilding unexpectedly rose in November, with the construction of single-family housing units surging to a 10-year high, but revisions to the prior month’s data indicated the sector was continuing to struggle with supply constraints.

Housing starts increased 3.3 percent to a seasonally adjusted annual rate of 1.297 million units, the Commerce Department said on Tuesday. That was the highest level since October 2016. But October’s sales pace was revised down to 1.256 million units from the previously reported 1.290 million units.

Economists polled by Reuters had forecast housing starts decreasing to a pace of 1.250 million units last month.

I call this my “Desert Isle” economic report. Meaning, if I only had access to one econ report, above all others, it would be housing starts.

Posted by on December 19th, 2017 at 9:01 am


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