No Need For Alarm Over Housing Starts Even As They Clash With Bullish Builder Sentiment
- iShares US Home Construction continues to get buffeted by a healthy mix of bullish and bearish indicators in the housing market.
- A recovery in home builder sentiment suggests that disappointing housing starts are more likely indicative of an on-going "bumping along" for the housing market.
- The Southern region greatly distorted the May to June housing start numbers just as it has throughout the housing recovery.
- Year-over-year changes in single-family housing starts are showing extremes in volatility that should further temper efforts to draw definitive conclusions.