Discounting Revisions Housing Starts Were Flat

Mish

Housing starts rose 1.9% but revisions negated the gain.

New Residential Construction

The New Residential Construction Report shows housing starts rose 1.9%, permits 5.2%, and completions 15.3%.

September Stats

  • Starts: 1,415,000 SAAR. This is 8.8% above the revised August estimate of 1,388,000.
  • Permits: 1,553,000 SAAR. This is 5.2% above the revised August rate of 1,476,000.
  • Completions:  1,413,000 SAAR. This is 15.3% above the revised August estimate of 1,226,000. 

August Stats as Initially Reported

  • Starts: 1,415,000 SAAR.
  • Permits: 1.470,000 SAAR

Actual Numbers 

  • Starts: 125,000
  • Permits: 134,200
  • Completed: 121,000

Starts, Permits, Completions 1959-Present

Housing Starts Permits Complettions for 2020-09

Housing starts are about where they were in 1959. Affordability and attitudes about ownership are in play.

But hey, starts were up 1.9% to 1,415,000 SAAR. Hooray.

Mish

Comments (2)
No. 1-2
Eddie_T
Eddie_T

It's all about the headline, isn't it? Great economic news.....

By the time they do revisions again nobody will be paying attention to August anymore.

Michael1002
Michael1002

This graph shows discounting revisions in housing starts. According to this graph rate of new houses rose, but https://my-assignment.help/cheap-assignment-help-australia/ revision negated the gain. This project is really working fast.


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