What Rising Housing Starts Really Mean For 2026 Buyers | February 18, 2026

On today’s Hot Sheet, Byron Lazine broke down December housing data from the U.S. Census Bureau showing starts rose 6.2% to a 1.404M pace even as 2025 completions fell 7.9% and permits declined 3.6% year over year.

He also reviewed the latest NAHB survey, with builder confidence slipping one point to 36 as 36% of builders cut prices by an average of 6%.

Byron wrapped up with new MBA data showing total mortgage applications up 2.8%, refinance activity surging 132% year over year, and purchase demand down 3% from the previous week but still 8% higher than last year.