DATA VIEW (NOT A FORECAST): BUILDING PERMITS RECOVERY YOUNG

Housing market was hit the hardest back in the 2008-2009 US recession, which triggered by the burst of the mortgage backed securities bubble.

Since then, US economy has restored her losses in most regards, if one is to look at the economic data.

Housing market, however, started to recover only in 2012 and is yet to reach its pre-bubble performance. In line with New Home Sales data, it is seen on on Building Permits indicator (the two move hand in hand with each other most of the time)