Housing Starts During October 2012

The U.S. Commerce Department this morning released the Housing Starts report for October 2012:

Housing Starts:
Predicted: 836,000
Actual: 894,000

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Change From Previous Month: +3.6%
Change From One Year Previous: +41.9%

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Building Permits:
Predicted: 865,000
Actual: 866,000
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Change From Previous Month: -2.7%
Change From One Year Previous: +29.8%


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The above is a measure of initial construction of single and multi-family residential units in The United States for last month. The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

If you're wondering about the demand for new homes in the United States, or about the American construction industry in general, then you should pay attention to the monthly Housing Starts report. This report also offers insight into specific types of consumer spending: when housing starts are up, demand for the stuff that a consumer would purchase for a new home (large appliances, consumer electronics, furniture, etc.) tends to also rise--and vice versa.

Click here to view the full Commerce Department report (PDF).

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