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.
https://www.census.gov/construction/nrc/pdf/newresconst.pdf
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.
https://www.census.gov/construction/nrc/pdf/newresconst.pdf
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.