Source: Housing Wire —
Today, the U.S. Census Bureau reported that housing starts came in as a beat at 1,679,000 for November. The more critical number of housing permits came in 1,712,000, a solid uptick from last month, and we saw slightly positive revisions to previous numbers.
Housing starts data has been choppy lately, as we are all aware of the delays in building homes in America. However, with all that said, the critical indicators for all housing data were consistently positive in 2021. If you knew where to look and expected a moderation from the COVID-19 surge in make-up demand, you would have prevented yourself from the embarrassment of being a housing crash bear in 2021.
The builder’s confidence data had been rising for months now. At the same time, some people focused their attention on iBuyers, who don’t even account for 1% of total home sales in America. Rookies are always going to roll badly, as rookies do.
