August Housing Starts Dive 5% To 571K -- Worse Than Expected

houseforsale tbi

The number is out:

Shocker! Another weak number.

Just 571K annualized housing starts in August. That’s down from 604K the month before, and a 5% decline.

Analysts had expected a decline of just 2.3%.

On the other hand, building permits jumped to 620K, and beat expectations of 590K, so maybe a wash?

Doubtful that the market will care very much about this one.

Original post: Analysts expect 590K annualized housing starts, a 2.3% decline from last month.

We shall see.

Number comes out at 8:30.

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