Housing Starts, Permits Rebound In October After Storm-Soaked September

Following September's storm-driven tumble, October has seen a big rebound in Housing Starts (+13.7% MoM) and Permits (+5.9% MoM) both beating expectations, as multi-family starts explode.

Housing starts printed above all analysts' guesses (4 standard deviations above expectations) for the biggest monthly jump in a year.


The surge in starts was driven by a major rebound in multifamily units...

That is a 37.4% increase month over month in October multifamily starts with only a 5.3% increase in single family starts. However, multifamily starts are still down 9.6% YoY (single-family starts are up just 0.7% YoY) and overall housing starts are down 2.9% YoY.

Single-family permits reached a new cycle high...



Finally some context for the recovery - these are the same level of starts/permits seen in 1993...


wintraiz Fri, 11/17/2017 - 08:47 Permalink

Jellystone pipeleak is a scam!  This housing thing is going to be just fine.  destruction is good for production any moreon knows that.  we need to focus our attention is on rigged stock markets. Shepwave is always knowing wheree marekts are going.  This cannot be just a guess.  I fear they are in on the corruption  early last week they said this  To not think that the markets will make several head-fakes prior to making the next short-to-mid term bearish trend change is a sign of a novice and probably emotionally based trader. For many years I have seen traders and investors just believe for certain that such-and-such was going to happen and they KNEW it was definite.  This is ridiculous. This is not the way to be consistently profitable at ANYTHING!Read the notes in ALL of the charts carefully. All of the notes work together to help educate for fully--and to present a more complete picture of how things are working together currently.ISLAND PATTERN; POSSIBLE ISLAND REVERSAL NOTE,  

Albertarocks Fri, 11/17/2017 - 09:02 Permalink

Yay, they're building more houses.  We need lots and lots more houses.  It doesn't matter that there are no buyers and the markets are beginning to flood with cheap used houses.  Yay, they're building more houses.

Albertarocks Justin Case Fri, 11/17/2017 - 10:32 Permalink

Yeah, new houses in Texas would be a good thing right now.  But it's scary when so much of the economy 'depends' on new houses being built whether people can afford them or not, whether people are working or not.  China has enough empty cities with so much empty housing that they could house the entire population of Texas in them.  I wouldn't want to see the US get caught up in that kind of scenario even though it would be on a much smaller scale.Obviously Texas is an exception in this case.  Besides, Texans and Albertans have known each other and worked together for so long now that we have built kind of a kindred spirit.  We certainly get along well and think along similar lines.  Although that's kind of beside the point, lol.And on a really off topic point... it's interesting that Texas is used as a benchmark for identifying different regions in the world.  Albertans would be the Texans of Canada.  The people from Cork county in SW Ireland are often referred to as the Texans of Ireland.  And Koreans are referred to as the Irish of Asia, which would equate to the Texans of Asia.  None of whom will tolerate getting pushed around very much.

In reply to by Justin Case