HBSDealer Stock Watch: More gains on Friday
Wall Street volatility settled down to a mild running of the bulls on Friday. The majority of stocks tracked by HBSDealer showed gains. Leading the percentage gainers was BLDR, up 3.4%. In the other direction, EXP declined 3.6%.
Quikrete Industry Dashboard: Starts up
Total housing starts increased 9.7% to 1.33 million — the highest level since October 2016. Elsewhere on the dashboard, stock prices accumulate in the top left quadrant, reflective of a difficult month but a strong year.
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January housing starts pick up the pace
The seasonally adjusted annual rate of housing starts in January increased nearly 10% to 1,326,000. It was the highest monthly total housing start figure since October of 2016. Compared to January a year ago, the current rate is up 7.3%.
Single-family starts also rose in January – up 3.7% to a rate of 866,000, compared to the revised December figure of 846,000.
Meanwhile, building permits produced mixed results. January’s total figure of 1,396,000 privately owned housing units authorized by building permits marked a 7.4% increase above December. Single-family building permits declined 1.7% month to month.
Home builders were pleased with the report, and the direction of residential construction in general. “The growth in production is in line with our reports of solid builder confidence in the housing market,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, La. “A pro-business regulatory climate and increasing housing demand are boosting builders’ optimism, even as they continue to face supply-side hurdles such as rising construction material prices and access to lots and labor.”