This Wednesday, the U.S. Census Bureau in conjunction with the U.S. Department of Housing and Urban Development will release its monthly report on new residential construction for the month of June.
Seasonally-adjusted housing starts have continued to decrease since March 2017, when they were sitting at about 1.19 million. In April, that number fell to approximately 1.16 million, only to fall further to 1.09 million in May. Wednesday’s numbers will indicate if housing starts’ decline is the beginning of an emerging trend, or if the last two months’ drop was an irregularity. The Census Bureau reports that it may take up to six months to identify underlying trends.
Other Events in the Week Ahead:
July 2017 NAHB Housing Market Index, Tuesday 10 a.m, EDT
U.S. Senate Committee on Banking, Housing, and Urban Development Nomination Hearing, Thursday 10 a.m EDT
Freddie Mac Weekly Mortgage Survey, Thursday 10 a.m. EDT
Housing Finance Reform: Maintaining Access for Small Lenders, Thursday 10 a.m. EDT