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Dismal Early Spring Housing Numbers
Tuesday, April 19, 2016
There probably isn't a lot of
backslapping going on in the housing world this morning. March residential construction data released
by the U.S. Census Bureau and the Department of Housing and Urban Development
was disappointing to say the least, with permits and housing starts falling
from February levels and both estimates falling way short of analysts'
predictions. That March is the beginning
of construction season in most of the country and that the downturn was almost
universal across regions only makes it worse.
The less economically critical completions data did paint a more
encouraging picture for current housing inventories.
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