Market Pulse: Strongest Housing Numbers Since the Last Boom

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Housing is running at its strongest levels since the summer of 2006, according to numbers today. Here’s today’s report from the Commerce Department:

  • December housing starts totaled 1.669 million (annualized). That beat the 1.56 million estimate and was the highest reading since July 2006.
  • December building permits totaled 1.709 million (annualized). That beat the 1.604 million estimate and was the highest reading since August 2006.
  • Single-family homes are dominant, while multifamily continues to weaken. This suggests the suburbanizing trend remains intact.
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David Russell is VP of Market Intelligence at TradeStation Group. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.