New Residential Construction Report: February 2013

Includes: ITB, IYR, REZ, XHB
by: Sold At The Top

Today's New Residential Construction Report showed broad improvement in February, with solid increases for both single-family permits and starts as well as improvement for total housing starts. Single-family housing permits, the most leading of indicators, rose 2.7% from January to 600K single family units (SAAR). That's an increase of 25.52% compared to the level seen in February 2012, but still remained an astonishing 66.63% below the peak in September 2005. Single-family housing starts increased 0.5% from December to 618K units (SAAR), and rose 31.49% above the level seen in February 2012. But they still remained 66.10% below the peak set in early 2006.