US June housing starts and building permits
- Prior was 974K (revised to 1011K)
- Starts +17.3% m/m vs +22.1% expected
- Prior starts +4.3% (revised to +8.2%)
- Building permits 1241K vs 1293K expected
- Prior permits 1220K (revised to 1216K)
- Permits +2.1% m/m vs +6.3% expected
This is virtually in-line with expectations but given that nearly all US data has beaten expectations for months, it's a bit disappointing. All indications are the US housing came out of the pandemic hot, and lumber prices have jumped but maybe we've hit some kind of plateau?
