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Housing starts cooled in February after robust January

Photographer: Daniel Acker/Bloomberg Sales of new U.S. homes rebounded to the best pace in almost a year and exceeded estimates in February. Meanwhile, other housing indicators, including starts.

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The last time housing starts were stronger was February of 1984, when they came in at a 2.26 million annual pace. The latest report marked the fifth time in the last six months that housing starts.

Highlights of Housing Starts (February) Residential starts fell 7% to a 1.24m annualized rate (est. 1.29m) after 1.33m pace in prior month; Single-family home starts rose 2.9%, second straight gain; multifamily starts fell 26.1% after similar jump the prior month

Surging prices for new homes suggest tight low-end supply David Madani, senior Canada economist for Capital Economics, suggests blaming supply constraints on surging Greater Toronto Area prices is bullish. The real estate industry regularly links high home prices in the Greater Toronto Area to a supply shortage – here, and here, and here – but the contrarian economist doesn’t buy it.

News Update: Housing Starts in U.S. Declined 5.9% in February; Permits Fell 1.6% Housing Starts Cool Off in January. Overall housing production declined in January after an unusually robust reading in the multifamily sector in December, but economists were unfazed. "As we move forward in 2017, we can expect the multifamily sector to continue to stabilize and single-family.

This is a comparison of Wednesday’s FOMC statement with the one issued on May 1 after the. increase since January 2015 and the first annual increase in February since 2011. February generally marks.

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Housing starts decreased by 7% in February and were down 4% as compared to the same period a year ago. The US Census Bureau and Department of Housing and Urban Development have reported housing starts in February at 1.2 million, a sharp decline from the revised January reading of 1.3 million.

Housing starts in January were at a seasonally adjusted annual rate of 1.326 million, up 9.7% compared with 1.209 million in December and up from 1.236 million in January 2017, according to estimates released by the U.S. Census Bureau and U.S. Department of Housing and Urban Development.. Most of the increase was attributable to starts of multifamily (five units or more per building) homes.

US job growth came up well shy of expectations in February, but wage growth accelerated to the fastest rate since 2009. Declining inflation has led to robust. in 2018. January housing starts data.

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[Bloomberg] U.S. Stocks Higher on Brisk Factory Output: markets wrap [bloomberg] U.S. Housing Starts Cooled in February After Robust January [Bloomberg] U.S. factory output rebounds in February and exceeds estimates [reuters] Trump’s tariffs head for a legal minefield [Bloomberg] The World Economy Risks Turning Too Hot to Handle [CNBC] Investors just pumped the most money [.]