Sharp rebound in US building permits offset by weaker housing starts

1:56 PM 19 September 2023

Building permits for August: 1.543 million (expected: 1.44 million; previous: 1.443 million)

Housing Starts: 1.283 million (expected: 1.44 million; previous: 1.447 million)

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Interesting data from the US property market, which implies that prices may rise in the near term given the limited new supply. On the other hand, more permits in the longer term, which should slow down price growth while having a positive impact on the economy.

Source: Macrobond, XTB

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