By Dr Denver H. Bubble
April had some bad news for future housing inventory. Housing starts dropped 3.7% month over month in April, worse than the expected drop of 0.7%. Three of four regions posted declines in starts, our home region, the West, had a 12% drop. Housing permits dropped as well by 1.8% month over month, however, permits beat expectations which were forecasting a 2.1% drop.
March 2018 had some positive revisions that boosted the number of starts and permits over what was previously reported. March building permits growth was revised up from 2.5% month over month to 4.1% month over month. March housing starts growth was revised up from 1.9% month over month to 3.6% month over month
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