US May housing starts rose more than expected to 1350K vs 1311K expected, a rise of 5% to 11 year highs. However building permits fell 4.6%. Housing numbers have been falling for a few months after a big jump in 2017 with the Fed raising rates.
US May housing starts rose more than expected to 1350K vs 1311K expected, a rise of 5% to 11 year highs. However building permits fell 4.6%. Housing numbers have been falling for a few months after a big jump in 2017 with the Fed raising rates.
Highlights
Housing Starts
- Housing starts for May 1350K vs. 1311K expected.
- Housing starts are new 11 year highs.
- Housing starts prior month revised slightly lower to 1286K from 1287K
- Housing starts rose 5% on the month after declining -3.1% last month
- Single-family starts rose 3.9% to 936,000 units.
- Multi family starts rose 7.5% to 414,000 units
Building Permits
- Building permits 1301K vs. 1350K expected
- Building permits prior month stayed steady at 1364K.
- Building permits fell -4.6% after a -0.9% decline last month
- Ssingle-family permits fell -2.2% to 844,000 units.
- Multifamily permits fell -8.8% to 457, 000 units
From The TradersCommunity News Desk