IAN SHEPHERDSON: Don't Get Too Excited About This Morning's Housing Starts Number

Building House

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April housing starts jumped to 717K, and the number has improved consistently since 2010.But Ian Shepherdson, chief US economist for High Frequency Economics, does not think you should get too excited about the housing start improvements.  From the LA Times:

Ian Shepherdson, chief U.S. economist for High Frequency Economics, said that housing starts would not continue to rise quite so strongly in coming months. New construction has been lagging behind the number of permits builders have pulled in recent months. April’s increase was a case of catching up, he said.

So, while the number was soild and the improvements are large in terms of March’s number and year-over-year, Shepherdson does not believe this will be a continuing trend going forward.

Here Is A Chart Detailing The Housing Start Numbers Since 1959 >

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