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🇺🇸 Building Permits
In September, US building permits declined to 1.400 million. Historically, building permits tend to peak and then decline prior to economic recessions
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#recession# #housing# #houses# #homebuyers# #homesales# #realestate#
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Home sales have fallen to a 31-year low, per FORUTNE
Home sales in August fell to their lowest level in more than a year, after rising mortgage rates dealt another blow to a hobbled housing market
Home sales fall in August despite the highest supply in over a decade
Home sales slide in July as high mortgage rates, rising prices sideline homebuyers
🚨Pending Home Sales crash to the lowest level in history
US pending home sales fell 7.3% in September to a record low of 66.0, dropping below the levels of the 2008 financial crisis and the COVID pandemic.
Over 1.6 million homes remain without buyers as US housing inventory hits its highest level in 7 years.
US housing affordability is near its lowest level in 40 years as mortgage rates hit 7.61% in early October.
US home sellers outnumber buyers by 63% marking the widest gap in over a decade.
The US housing market is facing a historic demand freeze due to high borrowing costs and elevated home prices.
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Pending home sales deteriorated sharply in September, with year/year growth -12.7%, down from -2.9% previous month and marking weakest reading in three years
Pending home sales sink to 25-year low as buyers flee high mortgage rates
Future home sales and prospective buyer traffic, two components of the @nahbhome Housing Market Index, both fell 5 points in October, reaching cycle lows
