Housing Starts

Who: Commerce Department
When: Monthly
What: The Housing Starts Index reports the number of residential homes construction has begun on during each month. It is a seasonally adjusted annualized rate of houses started, taken from a sample of 844 out of 17,000 permit sites. The monthly national average is broken down by region, and shows the breadth of change.
Why: The report may be used as an indicator of future national new home sales and mortgage origination volume. The housing market is very interest rate sensitive and is one of the first sectors to react to changes in interest rates. Typically, significant reaction to changes in interest rates signals interest rates are in a trough or peak. Any changes in the number of houses being built can have a significant effect on a number of other sectors.