US building permits and housing starts for October 2019
- Buidling permits 1461K versus 1385K estimate. Prior month 1391K unchanged from prior revision
- Housing starts 1314K versus 1320K estimate. Prior month revised to 1266K from 1256K previously reported
- building permits rose 5.0% versus - -0.4% estimate and -2.4% last month
- housing starts rose 3.8% versus 5.1% estimate and -7.9% last month
- Building permits were the high since May 2007
- single-family home starts increase 2% which was the strongest reading since January
- permits for single-family dwellings climbed 3.2% which was the fastest cents August 2007
- Groundbreaking's for multifamily category which can be volatile increased 8.6%. Permits also rose by a strong 8.2%
On Thursday existing home sales which account for about 90% of the US home sales will be released. The estimate is for a 5.49M annualized sales pace which is higher than the 5.38M pace last month. Next Tuesday, the new home sales data will be released.
The housing data this month (and potential for the future) is off to a good start with the rise in building permits and housing starts.
