Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Do The Housing Permits Indicate A Housing Recovery Is At Hand?

|Includes:BZH, D. R. Horton Inc. (DHI), HOV, KBH, NVR, TOL

    Hidden in the slew of news today, GE earnings, Bank of America, housings starts, was a hidden gem, one that portends well for the economy and ravaged housing industry:  March's unadjusted home building permits (
    Certainly housing starts were good with seasonally adjusted starts at 626,000, better than expected 610,000.

   But it is the unadjusted monthly permits that wow us.  March permits are up 42.5% for all housing permits over 2009.  March is up 42.2% over February's. The breakdown of permits for 1 unit dwellings looks great, whether it's in the Northeast 15%, South 48%, or West 37%.  However, it's the Midwest building permits for single family homes that drop the drawers:  they have almost doubled from February.  The data on housing permits indicates a strong housing market is on its way, something that will play well for DHI, TOL, BZH, HOV, NVR, KBH among others.



Disclosure: Long the home builders