Housing starts

http://mam.econoday.com/byshoweventfull.asp?fid=456088&cust=mam&year=2013&lid=0

Housing Starts

Released On 1/17/2013 8:30:00 AM For Dec, 2012 Prior Prior Revised Consensus Consensus Range Actual Starts - Level - SAAR 0.861 M 0.851 M 0.887 M 0.865 M to 0.920 M 0.954 M Permits - Level - SAAR 0.899 M 0.900 M 0.910 M 0.870 M to 0.945 M 0.903 M

Highlights Housing is still recovering and at moderate levels of activity but December starts suggest that recovery is moving somewhat faster than earlier believed. Housing starts in December rebounded a sharp 12.1 percent, following a dip of 4.3 percent the month before. The December starts pace of 0.954 million units topped analysts' forecast for 0.887 million units and was up 36.9 percent on a year-ago basis. November was revised to 0.851 million units from the initial estimate of 0.861 million. The jump in starts was led by the multifamily component although single-family starts also were up notably. Multifamily starts jumped 20.3 percent after a 6.3 percent decline in November. The single-family component gained 8.1 percent in December after decreasing 3.2 percent the prior month. By region, starts in December were led up by the Midwest region which posted a monthly 24.7 percent jump in starts. Also rising were the Northeast, up 21.4 percent; the West, up 18.7 percent; and the South, up 3.8 percent. Forward momentum continues as housing permits gained 0.3 percent to an annual pace of 0.903 million units. Market expectations for housing permits for December were for 0.910 million units. Housing is adding to the recovery with moderately positive growth although still from relatively low levels of activity. A caveat about the numbers is that seasonal factors are large during winter months and this may be coming into play.

Market Consensus before announcement Housing starts in November declined 3.0 percent, following an increase of 5.3 percent in October and a jump of 12.4 percent in September. The November starts pace of 0.861 million units was up 21.6 percent on a year-ago basis. October was revised to 0.888 million units from the initial estimate of 0.894 million. September was bumped down to 0.843 million annualized units from the prior estimate of 0.863 units. The latest decrease in starts was led by the single-family component while the multifamily component edged down. Home builders still are moderately optimistic about future sales as housing permits rose 3.6 percent to an annual pace of 0.899 million units.

Definition A housing start is registered at the start of construction of a new building intended primarily as a residential building. The start of construction is defined as the beginning of excavation of the foundation for the building.  Why Investors Care