Building permits
MacroDefinition
Monthly Census Bureau release showing new authorizations to start residential construction. One of the 10 components of the Conference Board's LEI.
Permits lead housing starts by 1-2 months and existing-home sales by 6-9 months. Sharp drops indicate rising mortgage rates / tightening credit are biting. Watched closely 2022-2024 as one of the cleanest signals of housing-cycle stress.
Permits lead housing starts by 1-2 months and existing-home sales by 6-9 months. Sharp drops indicate rising mortgage rates / tightening credit are biting. Watched closely 2022-2024 as one of the cleanest signals of housing-cycle stress.
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