Housing Starts Ease 0.7 Percent In June — 7x Better Than The Headline Data
July 21st, 2010 categories: Housing Starts
Single-family Housing Starts eased lower last month, falling by 0.7 percent from May, or 3,000 units nationwide.
A “housing start” is a home on which construction has started.
June’s Housing Starts data is somewhat soft and may partially explain why home builder confidence dropped to its lowest level since April 2009, but for buyers and sellers in Farragut , the Housing Starts report is not nearly as bad as headlines say.
This is because when the press reports on Housing Starts, it doesn’t single out single-family homes. The press lumps every type of home into a single, giant reading. As a result, news outlets are reporting Housing Starts down 5 percent — a somewhat misleading figure.
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