House builds in America:
Interesting New Home Sale Facts
Down 12.2% since last month
Down 27.2% since January 2022
Down 47.2% since August 2020
Down 57.5% from the record high in July of 2005
Up 118.5% from the February 2011 record low
Down 11.3 percent from July of 1963
In November, Existing Home Sales Rose 0.8 Percent, Only the Third Increase in 22 Months
The National Association of Realtors chief economist, Lawrence Yun, eyes a “marked turn“.I am more than a bit skeptical of major turn because prices and mortgage rates are still too high. However, we are likely in a bottoming process IF the economy holds up.
https://mishtalk.com/economics/huge-thud-in-new-home-sales-down-12-2-percent-in-november/
https://mishtalk.com/economics/whats-the-true-number-of-new-homes-for-sale-how-much-builder-speculation/
