Starts fell more than every Bloomberg estimate with single-family the least in a year, while single-family permits dropped to the lowest since March 2023.
September housing starts miss, but there is more to the margin pressure story.
We’ll take the big double-digit gain and place the shares in the Bullpen.
The data landscape has shifted but developments this week could render a decision.
The sector still has some headwinds to contend with.
We think the stock is washed out here and is ready to start moving higher.
The demand profile continues to strengthen, but we’re keeping an eye on inflation and the Fed.
