US Housing Starts Plummet In July, Near COVID Lows

US Housing Starts Plummet In July, Near COVID Lows After Housing Starts exploded higher in June (driven by a massive rebound in multi-family units), July was expected to see a reflexive decline of 5.9% MoM... ...things were considerably worse, with US Housing Starts plunging 12.4% MoM (the third major monthly drop in four months)... On the other hand, the more forward-looking Building Permits (preliminary for July) rose 5.0% MoM (well above the 0.6% MoM expected), after two m...

By Tyler Durden