Housing Permits Top 100,000 for Second Month

(Positive) There were 102,900 housing permits filed in April 2017. This was the second straight month that permits were above 100,000. Compared with one year ago, housing permits increased 3.2 percent, which was down from 15.1 percent in March. This was the fourth straight month of growth and the eighth in the last nine months. The annual rate of growth accelerated to 1.8 percent, which was the fastest rate of growth since October 2016.

The change in the real 10-year treasury rate was more negative in a row in March, meaning that the real 10-year treasury rate is a negative signal for housing permits. Changes in the interest rate lead changes in housing permits and construction spending by about 12 months on average.