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Friday’s weak “January” New Home Sales report — 555k SAAR vs 580k consensus and vs my 550k forecast — after December’s 8% plunge to 536k, strongly suggests that the Nov RATE SURGE and new year has NOT brought the much-hyped, “reacceleration” in housing demand. In other words, the “rate surge is great for the house
PLEASE FOLLOW @ https://twitter.com/MrMarkHanson. I put out much more regular detail and respond faster on a variety of housing & related subject matter than through the blog. Bottom line: There is a big, air-pocket under house prices that will pull everything lower this spring, as the dominant cohort of end-user, shelter-buyers in search of “affordable”
PLEASE FOLLOW @ https://twitter.com/MrMarkHanson. I put out much more regular detail and respond faster on a variety of housing & related subject matter than through the blog. Demand is back to early 1990 levels; Prices are bouncing off record highs. Can both be true at the same time? In the past, sharp demand increases and
PLEASE FOLLOW @ https://twitter.com/MrMarkHanson . I put out much more regular detail and respond faster on a variety of housing & related subject matter than through the blog. Case Shiller, a Blast from the Bubble Past Yesterday, the “November” Case Shiller — an average of Sept through Nov “closed” home sales prices – revealed that
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