Housing Starts and Permits Rise First Time in Four Months: Analyzing the 2nd Quarter GDP Effect
Starts rose 8.3%, with single family units up 6.%. Permits rose 7.4%, with single family permits up 4.1%.
The quarter ends on a positive note but the overall pace is lower than in the first quarter.
New Privately‐Owned Housing Units Completed
New Privately‐Owned Housing Units Authorized in Permit‐Issuing Places
- Starts Down 6.0%
- Completions Up 0.2%
- Permits Down 3.4%
Residential construction rates to subtract from second quarter GDP.
Mike “Mish” Shedlock