Housing data from the US

  • Prior was +3.98%
  • Prices up 0.04% m/m vs +0.3% expected
  • National index +4.46% y/y vs +4.61% prior

This is a bit softer than expected but I think the US housing market is strong. A better picture comes from home-building giant DR Horton, which reported earnings today and the conference call is ongoing. Here are some highlights so far:

  • July order growth 'consistent' with May and June
  • May and July grew by more than 50%
  • Increasing housing starts to boost supply of 'spec' homes
  • Says it has increased pace of land investment

Shares are up 3.2% in the premarket.