U.S. Housing Starts Pull Back Sharply In April But Building Permits Spike

U.S. new residential construction pulled back sharply in April, but the reading still came in well above economist estimates. The report is a mixed signal for housing, indicating some cooling from prior levels while remaining firmer than expected. The data is notable for housing and macro watchers but is unlikely to drive broad market moves on its own.

Analysis

U.S. new residential construction pulled back sharply in April, but the reading still came in well above economist estimates. The report is a mixed signal for housing, indicating some cooling from prior levels while remaining firmer than expected. The data is notable for housing and macro watchers but is unlikely to drive broad market moves on its own.