April 18, 2023

Newsfeed: Single-Family Building & Permits Jump As ‘Renter Nation’ Fades

Newsfeed: Single-Family Building & Permits Jump As ‘Renter Nation’ Fades

After February’s surprise surge in Housing Starts and Permits, driven largely by a brief dip in mortgage rates, the housing market’s data was expected to slide significantly in March data released today… and they did. However, while housing starts fell, it was less than expected (-0.5% MoM vs -3.5% exp but Feb’s 9.8% jump was revised down to +7.3%) but Building Permits plunged 8.8% MoM (vs 6.5% MoM drop) and Feb’s data was revised higherto 15.8% (from 13.8% MoM)…

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