Home Tags Homebuilders
Home starts reached a 1.61 million annualized rate last month, beating the 1.38 million estimate from economists surveyed by Bloomberg.
The index jumped to 76 in December, its highest point since June 1999. Prospective buyers and current sales conditions pulled the metric higher.
Housing stocks are on fire after a bruising 2018, even as some of the data weakens.
Homebuilders rallied Wednesday after Mortgage Bankers Association data showed mortgage rates fell unexpectedly last week.
The housing sector — from homebuilders, to mortgage lenders, to economic data — has been under intense pressure, but some say concerns are overblown.
The National Association of Homebuilders' sentiment index just posted its second-largest two-month decline since the measure's inception in 1985.
One of the biggest US homebuilders just sounded the alarm on a slowdown — here are the housing stocks traders are betting can sink further
Homebuilder stocks are under pressure. Traders are building larger short positions in many of these names, according to an analysis by S3 Partners.