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.
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.
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.
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http://www.bloomberg.com/apps/news?pid=20601087&sid=asWLID20AM08&refer=home
It seems that both the housing start and building permit data were all time lows.
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