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19 May 2015
US housing starts rise to highest levels since November 2007 – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team reviews the US housing starts data release, noting that the 20% jump higher is the biggest month-on-month gain seen in 25 years.
Key Quotes
“Warren Buffet's favorite US housing market indicator, housing starts, rose in April to its highest level since November of 2007. Starts jumped more than 20% sequentially to 1.135 million, for the biggest m/m gain in 25 years. Starts for single-family homes hit their highest level since January 2008.”
“The data stood in stark contrast to yesterday's soft May NAHB index of homebuilder confidence. Major homebuilding stocks are seeing their second session of moderate gains.”
“Apr Housing Starts: 1.135M v 1.015Me; Building Permits: 1.143M v 1.064Me”
“Redbook Retail Sales w/e May 15th: +1.8% y/y, May MTD: -0.2%; May YTD: +2.0%”
Key Quotes
“Warren Buffet's favorite US housing market indicator, housing starts, rose in April to its highest level since November of 2007. Starts jumped more than 20% sequentially to 1.135 million, for the biggest m/m gain in 25 years. Starts for single-family homes hit their highest level since January 2008.”
“The data stood in stark contrast to yesterday's soft May NAHB index of homebuilder confidence. Major homebuilding stocks are seeing their second session of moderate gains.”
“Apr Housing Starts: 1.135M v 1.015Me; Building Permits: 1.143M v 1.064Me”
“Redbook Retail Sales w/e May 15th: +1.8% y/y, May MTD: -0.2%; May YTD: +2.0%”