FYI: As shown in the top chart of Housing Starts, July’s seasonally adjusted annualized rate of 1.206 million marks a post-recession high and is the best monthly reading since October 2007. Even more encouraging about this month’s reading is that the strength was driven primarily by single family units, which are generally considered to have more of a positive economic impact than multi-family units. On a m/m basis, single family starts increased 12.8%, while on a y/y basis, they increased 19%. Looking at the regional breakdown of the y/y change in overall Housing Starts (+10.1%), every region but the West saw growth of more than 10%
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/mixed-housing-data/
