Preview: Due January 9 - U.S. September and October Housing Starts and Permits - Housing sector starting to pick up
The delayed housing starts and permits data for September in October will be released on January 9. We expect starts to rise by 1.8% in September and 3.0% in October, while permits rise by 0.8% in September and 2.2% in October, both reaching October levels of 1370k in October.
The housing sector, while still negative in Q3 GDP, has started showing signs of improvement with Fed easing resuming, which are likely to be more visible in October than September.
We expect starts to total 1330k in September, up from 1307k in August, while permits total 1340k in September, up from 1330k in August. We see both series at 1370k in October.
We expect the single family sector to show starts rising by 1.8% in September and 2.8% in October, while single permits rise by 0.2% in September and 2.3% in October. We expect multiples to show starts rising by 3.1% in September and 3.5% in October, with permits up by 1.7% in September and 2.1% in October. Multiples may have some upside potential after weak outcomes for August.
