Category Archives: Housing Starts and Permits

Late Spring For Housing

Housing starts surged in April with strong gains in single family homes as well as two to four unit and five or more unit buildings. Construction of single family homes has been lagging in recent years. If the gains are confirmed by next month’s numbers, maybe housing will finally have a late spring season.  Sales […]

Lackluster Housing Numbers

Housing data are disappointing.  Permits for new homes in March were down 2.4% from February with weakness concentrated in apartments and a slight  increase in single family homes. Housing starts were up 2.8% in March from February and single family unit starts were up 6% on the month. However, at 946,000 starts at annual rates, […]

In Residential Mortgage Backed Securities, When Is A Loss Not A Loss?

Ocwen Loan Servicing LLC (Ocwen), the largest servicer of subprime loans, recently revealed that in May 2013 it realized more than $1.4 billion of previously undisclosed losses on certain residential mortgage-backed securities (RMBS) primarily backed by subprime mortgage loans. These losses were from loans for which Ocwen had acquired the servicing from Homeward Residential Inc. […]

U.S. Housing Starts Surged By 15.0% To 872,000 In September

U.S. housing starts surged by 15.0% to 872,000 units in September.  It was much stronger than the 770,000 expected by consensus and comes after the prior month was upwardly revised to a 758,000 unit rate (was 750,000 units).  Both components were stronger.  Single-family starts jumped by 11.0% over August, while multi-family starts surged by 25.1% […]

August Housing Starts Rebounded By 2.3% To 750,000 Units

U.S. housing starts rebounded by 2.3% to 750,000 annualized units in August.  It was under the 760,0000 starts expected by markets though near our forecast of 755,000 starts.  However, it comes after July’s 746,000 units started was downwardly revised to 733,000 units.  Single family starts rose by 5.5% over July, erasing the 4.5% drop seen […]

Sales volume still low

Housing statistics for June and July 2012 were largely positive, but we still have not seen a real pickup in sales volume for more than five years. The S&P/Case-Shiller sales pair counts, NAR’s existing home sales and the US Census housing starts remain low compared to their pre-recession levels. S&P/Case-Shiller sales pairs are updated the […]

Housing Starts Jump 6.9% To 760,000 Units In June

U.S. housing starts jumped by 6.9% to 760,000 units in June, with upward revisions to May and April adding another 6,000 units started.  The June figure was much stronger than the 735,000 expected by markets and our 740,000 forecast.  Single-family starts rose by 4.7%, while multi-family starts were up an even stronger 12.8%.  The better […]

May U.S. Housing Starts Dropped by 4.8% to a 708,000 Unit Pace

U.S. housing starts dropped by 4.8% to a 708,000 unit pace in May, which was much weaker than the 725,000 expected by consensus and our 720,000 forecast. However, it comes after April starts were upwardly revised to a 744,000 unit pace (was 717,000 units). March starts were also upwardly revised to 706,000 units from 699,000. […]

Housing Starts Rebounded 2.6% To 717,000 In April

Housing starts rebounded by 2.6% to 717,000 units in April, which was much stronger than the 679,000 expected by consensus. It also comes after the prior month was upwardly revised to a 699,000 units in March (was 654,000 units). Single-family starts rose by 2.3% to 492,000 units starts, while multi-family starts rebounded by 4.3% to […]

U.S. Housing Starts Fell 1.1% to 698,000 in February

U.S. housing starts fell 1.1% to 698,000 units in February, in line with the 697.000 units expected by consensus though stronger than our 690,000 reading. However, it comes after January starts were upwardly revised from a 699,000 pace to a three-year high of 706,000 units started. Building permits also jumped 5.1% to a 717,000 unit […]

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