Housing Heat Maps Offer Pulse Check

Single-family permitting data provides a real-time pulse check on housing market conditions, and the latest figures indicate a softening of demand, despite the peak selling season. Elevated mortgage rates and persistent macroeconomic uncertainty continue to dampen builder activity and suppress homebuyer confidence ahead of the summer months. 

Goldman analysts Susan Maklari, Charles Perron-Piche, and Rhea Bhatia