HOMZ - The Housing Rebound Continues Strong Evidence Of Recession Risk Receding In 2020
Introduction
This morning’s release of housing permits and starts shows that the housing rebound continues.
Important metrics made new expansion highs
Starts increased, although not to an expansion high. More importantly, the more leading and less volatile permits *did* increase to a new expansion high:On a three-month average basis, starts also made a new expansion high.
When we turn to the even less volatile single-family permits and starts, we see the same thing:The rebound in single-family permits is particularly impressive.
Only once in the past 50 years has a recession started after housing