ANOTHER MISS: March Housing Starts Badly Miss Expectations At 654K

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UPDATE:The string of mediocre housing numbers continues.

Today it’s housing starts, which fell to 654K. That’s well below expectations of 705K, and down heavily from last month’s downwardly revised 694K.

With the housing data, it’s been a miss after miss lately.

The good news: Building permits jumped to 747K, well ahead of estimates of 710K.


ORIGINAL POST: Analysts are expecting a print of 705K annualized when March housing starts are announced at 8:30.

This is up slightly from the 698K that was reported last month.

In general, the housing data has been disappointing lately. Whereas housing numbers have been better than they ere a year ago, we’ve had a string of meh numbers after considerable improvement in the previous months.

Yesterday’s NAHB sentiment index was a disappointment, suggesting that after a really hot runup, the business of building houses is cooling off a little.

We’ll have the numbers here when they come out.

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