7/18: MetroIntelligence Economic Update by P. DUFFY

Builder confidence edges up one point to 65 in July

Builder confidence in the market for newly-built single-family homes rose one point to 65 in July, marking the sixth consecutive month that sentiment levels have held at a steady range in the low- to mid-60s.   The index measuring current sales conditions rose one point to 72, the component gauging expectations in the next six months moved a single point higher to 71 and the metric charting buyer traffic increased one point to 48.



June housing starts down 0.9 percent from May but up 6.2 percent year-on-year

Housing starts in June were at a seasonally adjusted annual rate of 1,253,000.  This is 0.9 percent below the revised May estimate of 1,265,000, but is 6.2 percent above the June 2018 rate of 1,180,000.


June building permits decline 6.1 percent from May and 6.6 percent year-on-year

Building permits in June were at a seasonally adjusted annual rate of 1,220,000. This is 6.1 percent below the revised May rate of 1,299,000 and is 6.6 percent below the June 2018 rate of 1,306,000.




Retail sales rose 0.4 percent in June, up 3.4 percent year-on-year

June retail and food services sales rose 0.4 percent from May, and 3.4 percent year-on-year. Total sales for the April 2019 through June 2019 period (the second quarter of 2019) were up 3.4 percent year-on-year.