Why Building Permits Plateaued in December
The Conference Board uses the number of building permits issued as one of the constituents of its LEI (Leading Economic Index) model.
According to the January report from NAR, existing home sales decreased 3.6% to a seasonally adjusted annual rate of 5.57 million homes in December.
For 2017, 1,263,400 housing units have been authorized by building permits—a 4.7% increase from 1,206,600 housing units in 2016.
The storm-related surge in housing starts in the southern region seems to be subsiding after the hurricanes. December’s housing starts fell 8.2%.
Comments from NAHB members indicated that homebuilders are optimistic about the future demand and projected increased activity in the housing sector.
The number of building permits issued each month is a constituent of the Conference Board LEI (Leading Economic Index). The construction and housing industry (PKB) is a major job provider in the economy,…
According to the latest report from NAR, existing home sales rose 5.6% to a seasonally adjusted annual rate of 5.81 million homes in November.
For November, the NAHB Housing Market Index was reported as 74—an increase of five from October and an 18-year high.
In November 2017, housing units (XHB) authorized by building permits were at a seasonally adjusted rate of 1.298 million—a decrease of 1.4% from October.
It was another positive month for housing starts due to reconstruction efforts in hurricane-battered areas. In November, housing starts rose 3.3%.
In October 2017, the number of building permits totaled ~1.3 million permits, a sizeable increase from the September reading of ~1.2 million permits.
According to the latest report from NAR, existing home sales have risen 2% to a seasonally adjusted annual rate of 5.48 million in October.
In October 2017, building permits were at a seasonally adjusted rate of 1.297 million—an increase of 5.9% from the reading of 1.225 million in September.
In October 2017, housing starts rebounded sharply from the slump in September. October housing starts beat the market’s expectations.
In September 2017, building permits were at a seasonally adjusted annual rate of 1.215 million—a fall from August’s 1.272 million and 4.3% below September 2016.
In September 2017, US housing starts fell from an upwardly revised August number of 1.183 million to 1.127 million units—a negative surprise.
This week, Fed Chair Janet Yellen and the FOMC rolled out the plan to start shrinking the Fed’s massive $4.5 trillion debt with a T balance sheet.
Last week, financial markets opened on a strong note as Hurricane Irma died down and the damage was less than anticipated.
From a sector standpoint, although the banks generally outperformed during the recent weakness, industrials are now at the top of our sector rankings.