Housing Starts & Permits · New Residential Construction
Definition
Census data on new privately-owned housing units that broke ground (starts) and were authorized (permits) in the prior month.
Why investors care
Housing is highly interest-rate sensitive, so starts and permits are a leading gauge of construction activity and the rate cycle’s real-economy bite.
What to watch
Permits lead starts — they’re the cleaner forward signal because weather distorts groundbreaking.