Current Reading: 0.914 M (Starts), 0.974 M (Permits)
Next Release: Wednesday, July 17, 12:30 GMT (Released monthly, about 17 days after the review month ends)
Economists Expect: 0.970 M (Starts), 0.990 M (Permits)
Source of report: The Census Bureau at the U.S. Department of Commerce.
Upcoming Release Commentary:
Housing starts rebounded in May by 6.8 percent after plunging 14.8 percent the month before. The May housing starts annualized level of 0.914 million units was a 28.6 percent rise on a year-ago basis. The jump in starts was led by a monthly 21.6 percent gain in the multi-family component. Single-family component increased 0.3 percent in May, following a 4.2 percent decline in April. Building Permits dipped 3.1 percent in May after jumping 12.9 percent in April. May’s annualized pace of 0.974 million units was a 20.8 percent gain on a year-ago basis.
Analysts expect housing starts to rise 6.4 percent in June to a 0.970 million pace. US Building permits are likely to rise to 1 million last month. Recent data suggests that home-builders are more confident about exercising their inventory of building permits, and have increased their construction activity to cater to current and expected future demand.
US Housing Starts Historical Chart:
Historically, from 1959 until 2013, the U.S. Housing Index averaged 1463.19 thousand, reaching a record high of 2494.00 thousand in January 1972, and a low of 478.00 thousand April 2009.
- See more at: http://www.forexnews.com/blog/2013/07/16/u-s-housing-starts/#sthash.9vpQ6rrK.dpuf