Reply To: Traders Market Weekly: Political Risks and Central Banks

#45922
Truman
Participant

Total housing starts declined 8.1% month-over-month in September to a seasonally adjusted annual rate of 1.439 million units (consensus 1.465 million).
Building permits rose 1.4% month-over-month to 1.564 million (consensus 1.550 million).

The key takeaway from the report is that there was ongoing weakness in starts and permits for single-family units, which were down 4.7% and 3.1% month-over-month, respectively. The downturn corroborates the adverse impact sharply higher mortgage rates have had on buyer demand and builder sentiment.