Conflicting Housing Numbers

All signs recently have been pointing to a sustained housing market, but CNBC reported two conflicting numbers today. Housing starts fell in August 3.0%, which was a larger drop than expected — but it’s mostly been in the Northeast, which fell 33%, according to the attached video. On the other hand, building permits in August increased by 3.5%. Combined, the two numbers seem to indicate that things are still positive, but maybe our last article about overvalued doesn’t mean a bubble, might actually be right.