US ‘Housing Recession’ Rolls On As Sellers Lose Stranglehold

US ‘Housing Recession’ Rolls On As Sellers Lose Stranglehold

There's "no sign" that America's "housing recession" is abating. That's according to Robert Dietz, chief economist at the NAHB, who on Monday spoke in stark terms while editorializing around a ninth consecutive drop in a closely watched gauge of homebuilder sentiment. The index has fallen every month this year (figure below), alongside a historic surge in mortgage rates, which have doubled from record lows. September's print, 46, was the lowest since May of 2020, following the first COVID
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4 thoughts on “US ‘Housing Recession’ Rolls On As Sellers Lose Stranglehold

  1. In a few months we will probably start seeing home equity soften, Lowe’s and Home Depot sales will also be a good place to keep an eye on. I would think some labor will move from construction elsewhere

  2. It’s common sense that housing, which is a market that for a while has been a target market for investment wealth and a residence of inflation, has lost its shine and sellers have to work harder to peddle their properties. It seems like a fairly obvious place where the market would tighten. But then again, consensus is a place for collective opinion. Lowes and Home Depot will feel modest effects initially, maybe worsening over time. This is a sign that the Fed’s rate increases are having their desired effect on the housing market at least.

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