The steep rise in mortgage rates has been the number one reason for the fall in demand. As the Federal Reserve increases interest rates to combat inflation, mortgage rates have spiked to a multi-decade high of more than 7%. … READ MORE >
new home sales
Pending home sales fall to their lowest level since April 2020
Pending home sales in the United States fell by 2% in August, the third straight monthly decline amid a steep rise in mortgage rates. … READ MORE >
Consumer confidence and core investment grow despite recession fear
The Conference Board’s consumer confidence index rose above market’s expectation to 108 in September, the highest since May. … READ MORE >
New home sales down 40% this year to lowest level since 2016
New home sales extended this year’s slump by dropping 12.6% in July to 511,000 annualized, following a 7.1% drop in June. … READ MORE >
Consumer confidence drops as new home sales slump
Consumer confidence continued to fall in July to the lowest level since February 2021 amid inflation angst and an economic slowdown. Sales of new homes fell by 8.1% in June. … READ MORE >
New home sales rise unexpectedly despite higher mortgage rates
The increase was driven by more supply coming online, pushing prices down for the first time since February. … READ MORE >
New home sales fell 16.6% in April to lowest level since pandemic began
New home sales plummeted in April to their lowest since the onset of the pandemic amid a steep rise in mortgage rates and elevated prices. … READ MORE >
Consumer confidence declines slightly as new home sales fall 8.6%
Consumer confidence eased in April despite an uptick in expectations, the Conference Board reported on Tuesday.
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Chart of the day: New home sales drop amid rising rates
New home sales posted the second consecutive month of decline in February as elevated prices and rising mortgage rates deterred buyers. … READ MORE >
U.S. new home sales declined in January
New home sales dropped 4.5% in January as high prices and increasing mortgage rates slowed demand. The omicron variant and colder-than-usual weather in January were also factors in the decline. … READ MORE >