Update Economic USA Housing

New home sales statistics were recently released and they continue to show a developing market where prices are increasing which correspondingly slowed demand. There is a lower level of supply available across the entire housing marketplace. New home sales dropped 9.4% for the month, but year-over-year activity is up 9.2%. The sales period, the time new homes stay on the market For Sale, is down to 2.9 months from a previous 3.6 months just a year ago; all signs of a tightening market; good for suppliers and, not as good for buyers. Fortunately, the market is not showing signs of stress, but rather a normal activity when supply and demand are tilted to higher demand and moderate supply.

You must be logged in to view this content.
To Subscribe, please 'Click Here'

Posted by Steve Albrecht