An explosive jump in housing starts was revealed today as US builders broke ground on more homes in December than in November as builders began construction of houses and apartments at a seasonally adjusted annual rate of 954,000.
Additionally, US homebuilder confidence reached a seven-year high; the NAHB/Wells Fargo Housing Market index was at 47 this month, the highest level since April 2006. The recent tailwinds in housing, such as yesterday's surge in mortgage applications, coincide with our Q1 2013 Global Macro Theme of #HousingsHammer. With plenty of positive data lifting housing, it’s clear that the best is yet to come.
