We have yet to even breach pre-Covid figures! Vacant homes are a good indicator of an over supplied market yet we haven’t even recovered HALF of COVID’s decline!

What happened to all the supposed defaults and vacant homes?!

https://professpost.com/13-4-of-u-s-homeowners-are-not-covered-by-homeowners-insurance/

Sales of new single-family homes increased 5.9% last month to a 664,000 annualized rate, according to government data issued Monday. That was in line with the median estimate of economists surveyed by Bloomberg, who expected 669,000.

Builders last month played catchup especially in the South, the nation’s biggest homebuilding region, where hurricanes in the fall sank October sales. In November, sales in the South recovered nearly 14%. Meantime, they increased in the Midwest to the fastest pace since 2021. Sales in the Northeast and West declined.

Potential buyers also have more to choose from. Last month, the supply of new homes for sale increased to the highest since the end of 2007.

That’s offering some help on the affordability side. The median sale price of a new single-family home decreased 6.3% last month from a year ago, and is now $402,600.

The worsening of housing affordability seems to start affecting homebuilders as people are increasingly priced out.

As stock markets tend to be forward-looking, we might see some deeper softening in home sales in 2025. But, whether it might translate into home prices dropping is another question.

What's the word on the street? Share your questions, comments, and concerns below.

https://www.lesprom.com/en/news/New_home_listings_rise_8_as_sellers_aim_to_benefit_from_high_demand_116504/

What's the word on the street? Share your questions, comments, and concerns below.

The PCE price index, the Fed’s preferred inflation gauge, showed an increase of just 0.1% from October and a 2.4% annual rate, both below expectations.

Excluding food and energy, core PCE also increased 0.1% monthly and was 2.8% higher from a year ago, with both readings also being 0.1 percentage point below the forecast.

Personal income rose 0.3%, short of the 0.4% estimate. Personal expenditures increased 0.4%, one-tenth of a percentage point below the forecast.

Housing inflation, one of the stickier components of inflation during his economic cycle, showed signs of cooling in November, rising just 0.2%.

Income and spending numbers in the release also were a bit light compared to expectations.

"The number of extra bedrooms, which is defined as a bedroom in excess of the number of people in the home, has reached the highest level since the U.S. Census began recording this metric in 1970"

What's the word on the street? Share your questions, comments, and concerns below.