Economic Event · monthly
Housing Starts & Building Permits
Source: Census BureauRelease: ~17th-20th of monthTime: 8:30 AM ET
The Census Bureau releases housing starts and building permits monthly, around the 17th-20th, at 8:30 AM ET. The report covers private residential construction activity, starts (construction begun) and permits (authorized, leading indicator of future starts).
Housing is the most rate-sensitive sector of the economy. Housing starts respond quickly to mortgage rate moves, making them an early signal of monetary policy transmission. Builder-specific equity exposure (homebuilders, materials) reacts strongly, and the broader economic impact flows through construction employment, materials demand (copper, lumber), and durable goods spending.
Why It Matters
The 2022-2023 housing starts collapse, from 1.8M annualized to under 1.4M, validated concerns that rate hikes were transmitting into the real economy even as other indicators stayed firm. Housing is often the canary that confirms monetary policy is working.
What to Watch For
- •Housing starts annualized rate
- •Building permits, leading indicator
- •Single-family vs multi-family split
- •Regional distribution
- •Mortgage rate context
Market Reaction Pattern
Weak starts with falling permits: homebuilders down, rates down (transmission signal). Strong starts: homebuilders up, copper/lumber up.
Related Metrics
Other Economic Events
Consumer Price Index (CPI)
monthly · ~10th-15th of month
Nonfarm Payrolls (NFP)
monthly · First Friday
FOMC Meeting & Rate Decision
8x/year · Varies, 8 scheduled meetings per year
Producer Price Index (PPI)
monthly · Day before or after CPI
Gross Domestic Product (GDP)
quarterly · ~1 month after quarter end (Advance), then 2 revisions
ISM Manufacturing PMI
monthly · First business day of month
ISM Services PMI
monthly · Third business day of month
Retail Sales
monthly · ~15th of month
Get release-day analysis and market reaction framing before consensus forms.