[TSP_Strategy] US Housing Starts

 

Charts of the Week

U.S. Housing Starts

Chart of the Week for September 20, 2019 - September 26, 2019

The U.S. Census Bureau publishes a monthly measure of New Residential Construction, commonly known as Housing Starts. The Census Bureau surveys local permit issuing authorities as well as homebuilders to gather their data. The chart above shows the monthly total of Housing Starts from August 2018 through August 2019.

Housing Starts reached a 12-year high of 1.364 million units in August 2019, well above the consensus estimate and a year-over-year increase of 6.6% from August 2018. Both starts and permits increased in August. Economists note that low mortgage rates, a strong labor market, and a lack of existing housing inventory all contributed to the strong report for August. Economists also note this could be a good sign for Gross Domestic Product (GDP), since Housing Starts haven't been contributing to GDP since the end of 2017, and this may be an indicator of a turnaround in the data.

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Posted by: sarah_oz@yahoo.com

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