US Housing Starts and Building Permits disappointed in October with the former dropping 3.1% MoM (-1.5% exp) and -0.6% MoM (+0.7% exp) respectively. This is the second straight month of declines for both measures of housing activity...
Source: Bloomberg
That pulled the SAAR totals down to four month lows - hovering just above COVID lockdown levels...
Source: Bloomberg
Under the hood, it was very mixed with Single-family permits rising and multifamily permits dropped. Single-family Starts plunged while multi-family Starts jumped...
Source: Bloomberg
As rate-cut expectations have fallen, so have homebuilders actions it seems...
Source: Bloomberg
But homebuilder 'hope' remains high...
Source: Bloomberg
With trump back in charge, how much will Powell and his pals really want to cut rates now?
US Housing Starts and Building Permits disappointed in October with the former dropping 3.1% MoM (-1.5% exp) and -0.6% MoM (+0.7% exp) respectively. This is the second straight month of declines for both measures of housing activity...
Source: Bloomberg
That pulled the SAAR totals down to four month lows - hovering just above COVID lockdown levels...
Source: Bloomberg
Under the hood, it was very mixed with Single-family permits rising and multifamily permits dropped. Single-family Starts plunged while multi-family Starts jumped...
Source: Bloomberg
As rate-cut expectations have fallen, so have homebuilders actions it seems...
Source: Bloomberg
But homebuilder 'hope' remains high...
Source: Bloomberg
With trump back in charge, how much will Powell and his pals really want to cut rates now?