US Housing Starts Tumble For 2nd Straight Month As Homebuyer Sentiment Crashes
After unexpectedly tumbling in September, US housing starts and permits were expected to rebound modestly in October, but the picture was more mixed than hoped for.
US housing starts unexpectedly fell for the second straight month (-0.7% MoM vs +1.5% MoM exp) but US building permits rose more than expected (+4.0% MoM vs +2.8%) from the downward revised 7.8% MoM slump in September)…
Source: Bloomberg
This pushed the Starts SAAR to its lowest since April, and rebounded Permits SAAR from its lowest since August 2020…
Source: Bloomberg
And this is all happening as homebuilder sentiment surges back towards record highs and homebuyer sentiment crashes to new record lows…
Source: Bloomberg
WTF!?
Tyler Durden
Wed, 11/17/2021 – 08:37
Zero Hedge’s mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information’s unending quest for freedom. Visit https://www.zerohedge.com