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The Week Ahead: Keeping Up With Housing Demand

Construction MaterialThe Census Bureau and the U.S. Department of Housing and Urban Development will release the latest housing starts data on Friday, April 19 at 8:30 a.m EST.

The report provides national and regional data on the number of new housing units authorized by building permits; authorized, but not started; started; under construction; and completed. Changes in the rate of housing starts in this report also point to the rising or falling demand for homes and provide a near- and long-term outlook for the construction industry.

According to the March report, housing starts declined in February despite a strong showing in the previous month. The report indicated that housing starts in February were at a seasonally adjusted annual rate of 1.16 million, decreasing 8.7 percent month-over-month and 9.9 percent on an annual basis. Single-family housing starts also weakened decreasing 17 percent to 805,000 in February compared with 970,000 in the prior month.

"A spike in mortgage rates in early November undermined buyer purchasing power and caused a dip in builder confidence that has started to recover but has yet to reach its October level, before the surge in mortgage rates," said Danielle Hale, Chief Economist, realtor.com. "Thus, we may see a few more months of up and down single-family starts before increasing confidence leads to increased production."

Here's what else is happening in the week ahead:

  • Bank Earnings: CitiGroup, Goldman Sachs, Charles Schwab, Monday, 8 a.m. EST
  • NAHB Housing Market Index, Tuesday, 10 a.m. EST
  • MBA Mortgage Apps, Wednesday, 7 a.m. EST
  • Fed Beige Book, Wednesday, 2 p.m. EST
  • Freddie Mac Primary Mortgage Market Survey, Thursday 10 a.m. EST
  • CoreLogic LoanSafe Training Webinars, Thursday, 2 p.m. EST

About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
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