7.22.21 U.S. Housing Starts Continue to Ramp Up
In data we received on Tuesday, July 20, U.S. Housing Starts increased 6.3% in June to 1.64 million units, a 3-month high. By region, housing starts rose in the South and West, and in the Northeast, single-family home construction soared more than 34% from the prior month. The data suggested residential construction continued its sharp post-COVID rebound despite the difficulties builders are having in finding labor and materials.
As seen in the LPL chart of the day, Housing Starts are now hovering in the same territory as the highs reached prior to the Great Recession; an economic instance spurred by excess housing activity and h... Read more