As mortgage rates rise, homebuilder sentiment slips, and home sales weaken, analysts expected housing permits and starts to fall MoM in March but, thanks in part to downward revisions for Feb’s data, Housing Starts surprised with a +0.3% MoM rise (vs -1.6% MoM exp) and Permits up 0.4% MoM (vs -2.4% MoM exp)…
Source: Bloomberg
Housing Starts pushed to their highest SAAR since 2006…
Source: Bloomberg
The big gains in permits and starts were driven by multi-family units as single-family unit.
Multi-family Starts soared as Single-family fell back (+7.5% SAAR and -.7% SAAR respectively)…
Source: Bloomberg
Similarly, Single-family permits fell as multi-family permits rose (-4.8% SAAR and +10.9% SAAR respectively)…
Source: Bloomberg
None of which will help the bleakness of inventories for single-family homeowners, and thus affordability.
More From The Real Estate Guys…
- Check out all the great free info in our Special Reports library.
- Don’t miss an episode of The Real Estate Guys™ radio show. Subscribe on iTunes or Android or YouTube!
- Stay connected with The Real Estate Guys™ on Facebook, and our Feedback page.
The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training, and resources to help real estate investors succeed.
Subscribe
Broadcasting since 1997 with over 600 episodes on iTunes!
Love the show? Tell the world! When you promote the show, you help us attract more great guests for your listening pleasure!
