Amid Slumping Sales & Sentiment, Housing Starts & Permits Jumped In December It would appear that homebuilders are desperately hoping for a ‘Field of Dreams’ year… After seeing existing home sales collapse in January (not driven by the winter storms), US Housing Starts and Building Permits rose dramatically more than expected in December (+6.2% MoM vs +1.1% exp and +4.3% MoM vs +0.4% MoM exp respectively)… Additionally, Housing Starts rose as Home Builders confidence crumbled (and Future Sales expectations dropped)… The surprise monthly surge lifted the SAAR totals for both housing sector data points to multi-month highs… Breaking down the… — Continue at ZeroHedge News : Read More
