Builders slip after solid housing starts print

December housing starts of 999K fell 9.8% from November, but are up 1.6% from a year ago. SIngle family starts of 667K fell 7% from last month. For the full year, an estimated 923.4K housing units were started, up 18.2% from 2012.

Building permits of 986K declined 3% M/M, rose 4.6% Y/Y. For the full year, an estimated 974K units were authorized, up 17.5% from 2012.

Full report

XHB -0.75%, ITB -0.8%.

Builders: Toll Bros. (TOL -1.1%), Lennar (LEN -1.6%), Hovnanian (HOV -1.1%), Ryland (RYL -1.6%), D.R. Horton (DHI -1.1%), Pulte (PHM -1.4%), KB Home (KBH -0.9%).

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Comments (1)
  • s.khan
    , contributor
    Comments (80) | Send Message
    We know from December jobs report that the construction jobs fell by 16,000.
    This was attributed to severe cold weather. Housing and jobs reports are in sync.
    Anyway, December is not a great month for housing. No surprise except for the
    wall street folks who expect everything to rise continuously.
    17 Jan 2014, 05:30 PM Reply Like
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