US housing starts 1.321M vs 1.300M estimate | Forexlive

• Prior month Housing starts 1.263 million revised from 1.256 million
• Prior month building permits 1.394 million.
• Housing starts 1.321M versus 1.300M estimate
• Building permits 1.397M vs 1.390M estimate

Here is a more detailed summary:

Building Permits

• Total permits: 1.397M SAAR, +0.2% MoM, -4.4% YoY

• Single-family permits: 866K, -3.7% MoM

• Multi-family (5+ units): 478K

Housing Starts

• Total starts: 1.321M SAAR, +4.6% MoM, -0.5% YoY

• Single-family starts: 883K, -4.6% MoM

• Multi-family (5+ units): 414K

Housing Completions

• Total completions: 1.314M SAAR, -14.7% MoM, -24.1% YoY

• Single-family completions: 908K, -12.5% MoM

• Multi-family (5+ units): 383K

Of note is the Housing completions at -24.1% from a year ago….That is a big number and is more of a worry vs employment data which is still solid.

Looking at the charts, although higher, the housing starts are still near lows.