Moneymoney

Sat Jan 18, 2020, 05:50 PM

Homebuilding Soars to 13-Year High!

https://www.breitbart.com/economy/2020/01/17/homebuilding-soars-to-13-year-high/

Our President does it again.

U.S. homebuilding jumped to an 13-year high in December, indicating the housing market is contributing to economic growth and buoyed by very-low unemployment and U.S. consumer strength.

Housing starts soared 16.9 percent higher to a seasonally adjusted annual rate of 1.608 million units last month, the highest level since December 2006. Economists had forecast a gain to an annual rate of 1.373 from the initially reported 1.365 for November.
======snip=======

1 replies, 55 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply Homebuilding Soars to 13-Year High! (Original post)
outside Jan 18 OP
uncledad Jan 19 #1

Response to outside (Original post)

Sun Jan 19, 2020, 09:26 AM

1. Massive Seasonal Adjustments

Not-adjusted housing starts rose from 103.1 to 108.5. This was reported at a seasonally-adjusted rate of 1,608 and a rise of 16.9%.

‚ÄčNot-adjusted single-family housing starts fell from 68.7 to 68.6. This was reported at a seasonally-adjusted rate of 1,055 and a rise of 11.2%

In the Midwest region, not-adjusted housing starts rose from 14.8 to 14.9. This was reported at a seasonally-adjusted rate of 254, and a rise of 37.3%.

In the Midwest region, not-adjusted single-family housing starts rose from 9.2 to 9.6. This was reported at a seasonally-adjusted rate of 180, and a whopping rise of 56.5%.

https://moneymaven.io/mishtalk/economics/housing-starts-surge-to-a-13-year-high-thanks-to-massive-seasonal-adjustments-90td1Sd5LUa4l---QeGf-w

Actual Year-Over-Year Comparisons

The December 2018 to December 2019 actual year-over-year change in housing starts was up 3.2%.

The actual change in single-family units year-over-year was a mere 1.4%.

Year-over-year single-family construction FELL 11.9% in the Northeast, 2.0% in the Midwest, and 3.8% in the West. The South saved the day, up 6.6%.

The seasonal adjustments went completely haywire in this report because of an exceptionally mild December, especially in the Midwest.

Reply to this post

Back to top Alert abuse Link here Permalink

Moneymoney