Economy
July 20, 2014
Housing Starts 3MMA Moved Sideways in June
Written by Peter Wright
A first glance suggests that the June housing starts report was depressing, total starts at 893,000 were down from 985,000 in May and 1,063,000 in April. However the three month moving average (3MMA) in June was 980,000 which was exactly the same as April. Not progress but not a calamity either. Even on a 3MMA basis housing starts are extremely erratic, (Figure 1). The trajectory is still on track to reach 1.6 million by the end of 2018.
