Housing starts and building permits
- Housing as housing starts 1.427M vs 1.400M est
- Last month housing starts 1.434M revised up from 1.425M
- Building permits 1.342M versus 1.485M estimate
- Last month building permits 1.526M
- Housing starts fell -0.5%
- Building permits tumbled -11.2%
- Single-family permits -7.1%
- Multifamily permits -16.4%
- Housing completions 1.49 million which is 10.8% above the October revised estimate of 1.345 million. In November 2021 the housing completions were at 1.406 million
Yesterday the NAHB housing index fell to the lowest level since the pandemic fall into 31 versus 34 expected (the pandemic low was at 30). The 50 level is a neutral reading. Below 50 is contractionary.