US Housing Starts Crashed In December

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After surging in November, housing starts and permits were expected to relapse in December following shutdown-delayed dismal data from the US housing market.

However, collapse was more appropriate than relapse as Housing Starts crashed 11.2% MoM in December (against expectations of a .1% drop). Building Permits managed a modest 0.3% MoM gain however (better than expected).

Year-over-year, housing starts tumbled 10.9% – the biggest drop since March 2011…

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