Category Archives: Housing Starts and Permits

Webinar Live Update: Home Prices Were Too High

We are providing  live updates to today’s S&P webinar: Is the Housing Market Bottoming Out? I’m Jim Henry posting this on behalf of Lisa Sarajian. To join the webinar click here. If you have any questions feel free to ask in the comment section below.  We will be addressing these throughout the week. Question-Lisa Sarajian: […]

Housing Starts Rebound 1.5% to 699,000 in January

January housing starts rebounded 1.5% to 699,000 annualized units. The reading was much stronger than the 675,000 expected by markets and comes after December starts were upwardly revised to 689,000 units (was 657,000 units). Multi-family starts rose 8.5% to 191,000 units in January, partially offsetting the 27.9% drop in December. Single-family starts, in contrast, fell […]


November housing starts surged 9.3% to an annualized 685,000 pace. It was the highest pace since April 2010, and was much stronger than the 630,000 expected by consensus. On a year-over-year basis, starts are up 24.3% over last November. Helped by strength in rental properties, once again, multifamily starts largely explain the overall gain, climbing […]

Housing Starts Surprise… But Don’t Get Too Excited

September Housing Starts were 658,000 units at annual rates, up 15% from the revised August figure of 418,000 and 10.2% higher than September 2010’s rate of 597,000.  On top of those numbers, the report beat most economists’ expectations by about 10%.  As encouraging as all this sounds, most of the gains were in apartments which […]

U.S. Economic Forecast: No Help From Home

After markets delivered last rites, the U.S. economic recovery received a boost last month, which felt like a new lease on life. The economic data at this point still aren’t telling us whether the patient is dead or just dragging. But it did provide more support to our forecast that the recovery will limp along […]

When will housing start to contribute to the economic recovery?

The answer, of course, is anyone’s guess.  But next week we start another round of updates to monthly US housing data beginning Tuesday when the Census Bureau releases August 2011 housing starts statistics. The market will be looking for any indication that housing is finally rebounding, simply stabilizing at recent lows, or falling deeper into a […]

Housing Starts Surge

June housing starts, in an unexpected sign of hope and strength, jumped 14.6% from May 2011 and are 16.7% above their level of June 2010.  Total starts were 629,000 compared to most expectations of about 575,000 and the revised May 2010 level of 549,000.  Single family home starts in June were 453,000, up 9.4% from May’s […]

U.S. economic forecast: it’s not over yet

Just as some good news finally came our way in June, increasing our hopes that the soft patch in the economy may finally be behind us, the government’s payrolls report on July 8 indicated that it isn’t over yet. Automatic Data Processing’s (ADP’s) June private payrolls survey had showed that employers had added a solid […]

Liquidity is a key focus as the recovery for U.S. homebuilders remains elusive

Standard & Poor’s Ratings Services’ base-case outlook for credit quality in the U.S. homebuilding sector is generally stable through the balance of 2011 despite a disappointing spring selling season. Our cautiously stable outlook for 2012 could tilt in a negative direction if our baseline forecast for a modest housing recovery again fails to materialize and […]

Homebuilders look elsewhere to make money

Takeaway: Disappointing new home sales is leading builders to diversify.  In the past week, government data on housing starts and permits were not anything to get excited about. Moreover, there were little signs the housing market is any closer to a recovery. At best, we see housing starts flat to up low single-digits in 2011 […]

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