US housing starts and building permits for February 2021
- Housing starts 1421M annualized vs 1560M est.. Last month revise to 1584K from 1580K previously reported
- Housing starts MoM -10.3% versus -1.3% estimate. Prior month revise 2-5.1% from -6.0% previously reported
- Building permits 1682M annualized vs 1750K est. prior month 1886K vs 1881K previously reported
- Building Permits MoM -10.8% versus -7.2% estimate. Previous month revise higher to +10.7% from +10.4%
- completions rose to 1362K versus 1324 K the parallel. Single family completions rose 1042K. Multi family completions rose to 320K
- under construction 1283K versus 1279K last month. +0.3% versus +1.0% last month
- housing starts are the lowest since August of last year
- building permits on lowest since November 2020
Higher prices and higher rates will likely start to impact strong housing numbers going forward
