Tuesday, May 19, 2009

Housing Starts

So much for homebuilder optimism. Housing starts fell to a seasonally adjusted, annualized rate of 458,000 from 525,000 last month. The below graph tracks the unadjusted monthly number, to attain a sense of the seasonal peaks & valleys.

On average, starts peak in May and bottom in December. No surprise there. What should be troubling to the "green shooters" is how the number may be turning over. A peak in March would certainly dampen the case for a recovering housing market.

1 comment:

MK said...


It seems that both the housing start and building permit data were all time lows.