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February 16, 2018 | Housing Starts Surge Unevenly: Surprised? Why?

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
Housing starts jumped 9.7% but the surge was primarily in the South, and primarily multi-family.

Here are the numbers from the Census Bureau’s New Residential Construction Report.

Housing starts surged 9.7%, with single-family starts up 3.7%.

Single-family starts were up in the South, the largest region, and Northeast, the smallest region, but down in the Midwest and West.

Five unit or more starts were up a whopping 19.7%.

Everyone seems surprised by the number. Is it that surprising? Let’s take another look at recent New Home Sales.

Logic would dictate that a surge in starts would follow the surge in sales.

Mike “Mish” Shedlock

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February 16th, 2018

Posted In: Mish Talk

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