Housing ‘Recovery’ Stumbles As Starts, Permits Plunge In April

After a big plunge in March (it’s the weather, stupid), Housing Starts were expected to rebound in April… but did not! Starts dropped 2.6% in April, after March’s 6.6% drop. Building Permits also tumbled 2.5% MoM – also multiple standard-deviations below expectations.
Single family permits dropped to 789K, the lowest since November (and multi-family is also at its lowest since Nov)

This post was published at Zero Hedge on May 16, 2017.