Housing Starts Tick Lower; Building Permits Tick Higher
Single-Family Housing Starts fell to a seasonally-adjusted, annualized 425,000 units in July, according to the Census Bureau.
A “Housing Start” is defined as a home on which construction has started and ground has broken.
Furthermore, Single-Family Housing Starts were revised lower for both May and June of this year, by 6,000 units and 2,000 units, respectively.
The data may be worthless, however.
Like in most months, the government’s official report states that the Housing Starts numbers have a margin of error exceeding their actual measurement. Mathematically, this renders the data statistically irrelevant.
- July Published Results : +4.9%
- July Margin of Error : ±8.9%
In other words, July Housing Starts made have increased by as much as 13.8%, or they may have dropped up to (more…)