Article Image
IPFS News Link • Housing

Despite Record Builder Sentiment, Housing Starts Collapse Led By Rental Unit Crash

•, by Tyler Durden

July's massive rebounds in both housing market measures may just have been the peak in the 'v'-shaped pent-up supply as Housing Starts plunged 5.1% MoM (-0.6% MoM exp) and Building Permits dropped 0.9% MoM (versus +2.0% MoM exp).

Additionally, the data for July was revised notably lower...

While single-family home starts rose, the rental units crashed in August...

4.1% jump in single family units from 981K to 1021M

25.4% drop in multi-family units from 503K to 375K

Similar pattern played out in Permits with rental units crashing...

6.0% jump in single-family units to 1.036MM, highest since 2007

-17.4% drop in multi-family (rental) units to 381K