- Prior 1.559M (weaker than the estimate of 1.580M) for housing starts and 1.685M for building permits (vs exp of 1.650M).
- Housing starts for July 1.446M vs 1.540M est. Prior month revised to 1.599M vs 1.559M previously reported.
- Building permits for July 1.674M vs 1.650M est. Prior month revised to 1.696M vs 1.685M previously reported
- housing starts fell -9.6% vs. +2.4% in June
- building permits fell -1.3% vs. +0.1% June
- single-family permits fell -4.3% to 928,000 while multi family permits rose 2.8% to 746,000
Yesterday the NAHB builders survey dipped below the 50 level to 49 for the first time since the pandemic shut down. A level below 50 is indicative of contraction vs expansion in the survey results. Housing is continuing to suffer from high prices and higher rates