New Residential Sales and Construction – New Housing Collapse 2.0
papereconomy.substack.com
Today’s release of the New Home Sales Report shows that housing is now firmly reflecting the negative effects of the quickly darkening economic conditions and sharply rising mortgage rates with sales of new single family homes plunging to a seasonally adjusted annual rate of 591,000, a decline of 16.6% below the prior month’s rate and 26.9% below the rate seen one year ago.
New Residential Sales and Construction – New Housing Collapse 2.0
New Residential Sales and Construction – New…
New Residential Sales and Construction – New Housing Collapse 2.0
Today’s release of the New Home Sales Report shows that housing is now firmly reflecting the negative effects of the quickly darkening economic conditions and sharply rising mortgage rates with sales of new single family homes plunging to a seasonally adjusted annual rate of 591,000, a decline of 16.6% below the prior month’s rate and 26.9% below the rate seen one year ago.