REAL ESTATE JERKY DAILY

Housing Starts Drop While Building Permits Point to Future Supply

August 18, 2026 · 11:39

Ed Parcaut and Mike Kelly cover weaker California sales, falling pending contracts, housing starts, building permits, low inventory, ADP jobs, oil prices, and misleading mortgage marketing. California closed sales fell 4%, pending sales dropped 13.8%, and new listings declined 10.7%. National pending home sales fell 2.3%, while housing starts dropped to a 1.239 million annual pace. Ed also explains why buyers should be cautious about exclusive mortgage programs advertised to public employees, veterans, and first responders when the offer may be little more than lead-generation marketing. A fast Real Estate Jerky Daily market update with the u