(REUTERS/Carlos Barria)
The housing market is still rolling.
In August, housing stats declined by 3%, less than the 3.5% decline that was expected, while building permits rose 3.5% which topped expectations for a 2.5% increase.
July's starts number was also revised lower while the July figure for building permits was revised up.
In August, housing starts hit an annualized pace of 1.126 million while building permits came in at a total of 1.17 million.
In a note to clients following the report, Ian Shepherdson at Pantheon Macro said the decline in starts due to a correction and said the rise in permits — which hit a new post-crisis high — was the key figure.
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