Here Comes Housing Starts...
Aug 16, 2013, 17:41 IST
Advertisement
Economists polled by Bloomberg are looking for housing starts to rise 7.7% on the month to an annualized rate of 900,000 units. This compares with a 9.9% fall to 836,000 the previous month.
Meanwhile, building permits are expected to rise 2.9% on the month to 945,000, from a 7.5% fall to 911,000.
The run up in homebuilder confidence should point to stronger housing starts, but Paul Diggle at Capital Economics argue that NAHB has a "history of over-exuberance as a predictor of starts."