Photo: Flickr Kansas City District
The number:Basically a snooze. Housing starts fell to 604K annualized. That’s slightly better than the 600K analysts had expected, but down form the 613K revised last month.
Permits of 597K were below expectations of 605K and down form the 617K pace last month.
Again, all right in the ballpark. This isn’t going to move much of anything.
Background: Don’t expect anything remarkable here. July housing starts are expected to come in at a paltry 600K annualized, down from 624K last month.