US Housing Starts Crashed In December

After surging in November, housing starts and permits were expected to relapse in December following shutdown-delayed dismal data from the US housing market.

However, collapse was more appropriate than relapse as Housing Starts crashed 11.2% MoM in December (against expectations of a .1% drop). Building Permits managed a modest 0.3% MoM gain however (better than expected).

Year-over-year, housing starts tumbled 10.9% - the biggest drop since March 2011...

Single family housing permits plunged -10.5% Y/Y to 758K, lowest since August 2016, but rental units soared...

Multi-family home permits plunge 15.9% Y/Y, to 302K, lowest since February 2015

But apart from that, the US housing market is awesome - just look at the stocks to tell you.