7/18: MetroIntelligence Economic Update by P. DUFFY

Builder confidence edges up one point to 65 in July

Builder confidence in the market for newly-built single-family homes rose one point to 65 in July, marking the sixth consecutive month that sentiment levels have held at a steady range in the low- to mid-60s.   The index measuring current sales conditions rose one point to 72, the component gauging expectations in the next six months moved a single point higher to 71 and the metric charting buyer traffic increased one point to 48.

https://www.nahb.org/news-and-publications/press-releases/2019/07/builder-confidence-holds-firm-in-july.aspx

 

June housing starts down 0.9 percent from May but up 6.2 percent year-on-year

Housing starts in June were at a seasonally adjusted annual rate of 1,253,000.  This is 0.9 percent below the revised May estimate of 1,265,000, but is 6.2 percent above the June 2018 rate of 1,180,000.

https://www.census.gov/construction/nrc/pdf/newresconst.pdf

June building permits decline 6.1 percent from May and 6.6 percent year-on-year

Building permits in June were at a seasonally adjusted annual rate of 1,220,000. This is 6.1 percent below the revised May rate of 1,299,000 and is 6.6 percent below the June 2018 rate of 1,306,000.

https://www.census.gov/construction/nrc/pdf/newresconst.pdf

 

 

Retail sales rose 0.4 percent in June, up 3.4 percent year-on-year

June retail and food services sales rose 0.4 percent from May, and 3.4 percent year-on-year. Total sales for the April 2019 through June 2019 period (the second quarter of 2019) were up 3.4 percent year-on-year.

https://www.census.gov/retail/marts/www/marts_current.pdf

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