*SCALPSWINGSTRADDLE*

[Zephyr]

Housing Starts
Released On 3/18/2014 8:30:00 AM For Feb, 2014
Prior Prior Revised Consensus Consensus Range Actual
Starts - Level - SAAR 0.880 M 0.909 M 0.910 M 0.792 M to 0.935 M 0.907 M
Permits - Level - SAAR 0.937 M 0.945 M 0.960 M 0.920 M to 1.003 M 1.018 M
Highlights
Housing starts came in much as expected for February but permits topped the consensus forecast. Overall starts nudged down 0.2 percent to a 907,000 annual rate from an upwardly revised 909,000 rate for January which followed a downwardly revised December number of 1.024 million. Analysts expected 910,000 units for February. January and December previously were 880,000 and 1.048 million, respectively.

Single-family starts rose 0.3 percent after a 13.2 percent plunge in January. Multifamily starts dipped 1.2 percent in February after a 7.6 percent decline the month before.

Overall permits jumped 7.7 percent to a 1.018 million unit pace after decreasing 4.6 percent in January. Expectations were for 960,000. The increase was largely from a 24.3 percent spike in multifamily units while single-family permits eased 1.8 percent in both February and January.

It appears that housing is coming out of the severe winter weather doldrums but largely in the multifamily component.