You need a PLUS account to view this content. Try one month of PLUS for FREE.
Already have an account? log in
False Dawn? US Pending Home Sales Jump
Guess what? Contract signings in the US housing market picked up smartly last month.
That's news. Really it is. Maybe not headline news during a week of wild geopolitical escalations, central bank meetings and top-tier data releases, but news all the same.
The NAR's gauge of pending US home sales, you might recall, slipped to the lowest level on record in May. Any rebound would've been welcome, which means June's near 5% increase -- more than double the expected recovery -- was cause for celeb
Sorry to repeat myself, I did comment this elsewhere already today, but as a newbie, I would like to understand why a 5% interest rate is onerously high now, when it was historically low in the 90s and we had a dotcom boom.
The bigger problem is this:
https://www.visualcapitalist.com/median-house-prices-vs-income-us/
I’m at five percent and it’s onerous because I’ve only seen 2-3 percent and I wanted to upgrade, not downgrade.