The annualized number of 590K is better than expected.
It’s the highest level in four months, and the spike is over 10%.
Building permits were up over 1%.
It appears, perhaps, that the post-tax credit slump was an overshoot, and now the market is normalizing a bit.
Futures are ticking a bit into the green right now.
Background: Last month’s housing starts was one of the worst on record, though really you want to see this number stay low, since there’s such a big overhang still.
Analysts are looking for an annualized 540K.