U.S. Housing Starts Down 12.3% To 9 Month Low as Rates Rise

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  • #17420
    TradersCom
    Keymaster

    US housing starts in June fell 12.3% to…

    [article]939[/article]

    #17427
    Helmholtz Watson
    Participant

    Construction crisis?

    Worst for homebuilders was in Midwest, where building starts fell 35.8%. South recorded a 9.1% fall in activity.

    #17428
    Helmholtz Watson
    Participant

    Furthermore the underlying weakness is shown again in housing permits where they dropped for the third consecutive month.

    Permits were issued for a total of 1.273 million units during the month, the lowest since September 2017 and down 2.2% compared to May.

    #17486
    TradersCom
    Keymaster

    US June existing home sales 5.38m vs 5.45m expected

    Prior 5.43m (revised to 5.41m)
    Sales -0.6% vs +0.2% expected
    Inventory at 4.3 months
    Median price $276,900, up 5.2% y/y

    #17491
    TradersCom
    Keymaster

    US May FHFA house price index +0.2% vs +0.3% expected
    Prior +0.1% (revised to +0.2%)
    Prices up 6.4% y/y
    Index at 263.3

    #17511
    TradersCom
    Keymaster

    More weak housing news

    US June new home sales 631K vs 668K expected, previous was 689K revised to 666K
    This to an eight-month low
    Sales -5.1% vs -3.1% m/m expected
    Supply at 5.7 months vs 5.3 prior
    Median sale price -4.2% from June 2017

    #17568
    TradersCom
    Keymaster

    US Pending Home Sales (M/M) Jun: 0.9% (est 0.2%; prev -0.5%)
    US Pending Home Sales (Y/Y) Jun: -4.0% (prev -2.8%)

    #17573

    The business side of economy is indeed improving as we saw with 4.1% 🙂 but the people side is still a work in process :ohmy: … it will take a while for wages to improve … but most importantly the RISE of FED rates are a key factor in cooling off this sector — as homes are much more expensive when we make banks “great again”

    #17575
    TradersCom
    Keymaster

    Yes the bailout was never about main street as we know ..

    #17595
    TradersCom
    Keymaster

    US May CaseSchiller 20-city house price index +0.2% vs +0.2% m/m expected
    Prices + 6.51% y/y vs 6.4% expected
    Prior +6.56% (revised to +6.69%)
    National prices 6.38% vs +6.39% prior

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