US Housing Starts and Building Permits disappointed in October with the former dropping 3.1% MoM (-1.5% exp) and -0.6% MoM (+0.7% exp) respectively. This is the second straight month of declines for both measures of housing activity...

That pulled the SAAR totals down to four month lows - hovering just above COVID lockdown levels...

Under the hood, it was very mixed with Single-family permits rising and multifamily permits dropped. Single-family Starts plunged while multi-family Starts jumped...

As rate-cut expectations have fallen, so have homebuilders actions it seems...

With trump back in charge, how much will Powell and his pals really want to cut rates now?

...falling for the second straight month despite higher homebuilder 'hope'
{ai:summary}US housing starts and building permits fell in October, with starts down 3.1% and permits down 0.6%, marking two consecutive months of decline. The totals are at four-month lows, just above COVID lockdown levels, despite a rise in single-family permits.Mixed results were seen: single-family starts dropped while multifamily starts increased. As expectations for rate cuts diminish, homebuilder activity appears to be slowing, yet optimism among builders remains high. #economy

US Housing Starts & Building Permits Slump Back Near COVID Lockdown Levels

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