Big housing starts beat has homebuilders higher

|By:, SA News Editor

Housing starts in July of 1.093M were 15.7% above the revised June estimate of 945K and 21.7 above the year-ago level. Single-family starts of 656K were 8.3% above June's revised level of 606K.

Building permits of 1.052M were up 8.1% M/M and 7.7% Y/Y. Single-family permits of 640K gained 0.9% from June.

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The homebuilder ETFs are on the move, with ITB +1.3% and XHB +1.6%  premarket.