More Weak Fundamentals.

Housing Starts (March 2016)

– Starts seasonally adjusted, annualized  1,089,000. Previous was 1,194,000
– Permits seasonally adjusted, annualized 1,086,000. Previous was 1,177,000

Single-family starts were 727,000 (annualized).  Permits were also down.

This data is prepared by the Census Bureau which regards 1,500,000 starts as the level necessary to keep pace with population growth.  SFR Starts in the West were down 26.9%. The recovery in housing has stalled. A flat economy and tougher lending standards mandated by CFPB are contributory.

 

 

Redbook Chain Store Sales  (week ended 4/16/2016)

– Chain Store Sales year/year  +0.5%. Previous was +1.1%