Continuum Economics
  • Search
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
  • Calendar
  • Forecasts
  • Events
  • Data
  • Newsletters
  • My Alerts
  • Community
  • Directory
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
    • All
    • Thematic
    • Tactical
    • Asia
    • EMEA
    • Americas
    • Newsletters
    • Freemium
    • Editor's Choice
    • Most Viewed
    • Most Shared
    • Most Liked
  • Calendar
    • Interactive
      • China
      • United States
      • Eurozone
      • United Kingdom
    • Month Ahead
    • Reviews
    • Previews
  • Forecasts
    • Forecasts
    • Key Views
  • Events
    • Media
    • Conference Calls
  • Data
    • Country Insights
    • Shadow Credit Ratings
    • Full CI Data Download
  • Newsletters
  • My Alerts
  • Community
    • FX
    • Fixed Income
    • Macro Strategy
    • Credit Markets
    • Equities
    • Commodities
    • Precious Metals
    • Renewables
  • Directory
  • My Account
  • Notifications Setup
  • Account Details
  • Recent Devices
  • Distribution Lists
  • Shared Free Trials
  • Saved Articles
  • Shared Alerts
  • My Posts
Published: 2024-03-08T17:11:11.000Z

Preview: Due March 19 - U.S. February Housing Starts and Permits - Starts to rebound from weather-depressed January

byDave Sloan

Senior Economist , North America
4

We expect February housing starts to rise by 18.0% to 1570k after a 14.8% January decline that was probably due to bad weather. We expect permits, less sensitive to weather, to rise by 1.4% to 1510k after falling by 0.3% in January. 

Underlying trend is probably still positive with single permits having risen for twelve straight months. For February however we expect single permits to rise by only a modest 0.9%, slower than the two preceding months, as recent gains in mortgage rates start to restrain demand. We expect single starts to rise by 9.6% which would not quite fully reverse two straight falls that followed a sharp November increase.

We expect the more volatile multiples sector to show stats rising by 43.7% after a 35.6% January decline and permits rising by 2.6% after a 5.3% January decline.

Housing construction has been more resilient than housing demand, a sign of improving supply, though housing demand picked up in late 2023 as mortgage rates moved off their highs. Mortgage rates have started to pick up again in early 2024, but improved weather is likely to be the key for February housing starts. February’s non-farm payroll showed construction aggregate hours worked rebounding from a weak January.

Continue to read the article for free
Login

or

or

Topics
Foreign Exchange
Data

GENERAL

  • Home
  • About Us
  • Our Team
  • Careers

LEGAL

  • Terms and Conditions
  • Privacy Policy
  • Compliance
  • GDPR

GET IN TOUCH

  • Contact Us
Continuum Economics
The Technical Analyst Awards Winner 2021
The Technical Analyst Awards Finalist 2020
image