Housing Starts Suffer 7th Annual Decline In A Row Despite Surge In Northeast

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Following last month’s disappointments, Housing starts and permits were expected to rebound in April and did with positive upward revisions for March data also.

Building Permits  rose 0.6% MoM in April (beating the 0.1% rise expected) and up from the upwardly revised -0.2% (from -1.7% prior) drop in March.

Housing Starts spiked 5.7% MoM in April (less than the expected 6.2% jump but March data was notably revised upward from a 0.3% drop to a 1.7% rise).

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