- by New Deal democrat
I'll do a more detailed analysis next week, once new home sales are reported, but for now a quick synopsis about December housing permits and starts:
- single family permits (the least volatile, most forward looking metric) made another new high
- total permits are just slightly below their October high
- the three month moving average of the more volatile housing starts made a new high save for the three month average from 10 months ago.
YoY interest rates are no longer a drag on the market, and I am impressed with the strength of the demographic tailwind. While not perfect, this was a very positive report.