Housing starts fell 4.3% to a 525K annualized rate, which is notably below estimates of 550K and 555K in November.
Of course, we’re at such trivially small levels here, maybe it hardly matters.
The good news is that permits were up big, so perhaps there’s light around the corner.
Background: New housing activity obviously remains at ridiculously anemic levels, but it would still be interesting if we found some sign of life.
But don’t bet on it. Analysts are looking for housing starts at a 550K annualized rate, which is slightly down from 555K in November.
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