After an unexpectedly large decline in July, August's data for Housing Starts and Building Permits rebounded dramatically, well above expectations. Starts rose 9.6% MoM (vs +6.5% exp and -6.8% prior) while Permits jumped 4.9% MoM (vs +1.0% exp and -3.3% prior). Both prints are the highest since February...

The SAAR for starts and permits obviously rose but remains near COVID lockdown lows still...

Single-Family Starts and Multi-Family Permits dominated the increases...

This should not be a total surprise as forward-looking permits have tracked (with a lag) rate-cut expectations...

This should not be a total surprise as forward-looking permits have tracked (with a lag) rate-cut expectations...
{ai:summary}Housing Starts and Building Permits showed significant recovery in August, with starts increasing 9.6% and permits rising 4.9%. This rebound exceeded expectations and marks the highest levels since February, despite remaining close to COVID lockdown lows.The surge was led by Single-Family Starts and Multi-Family Permits, aligning with previous expectations of rate cuts. However, potential disappointment from The Fed could impact future trends. 
#economy

Housing Starts & Permits Surged In August As Rate-Cut Euphoria Re-Emerged

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