The new homes sales report is out and they plunged by just a little over 16% in April. A more significant dip than expected is now causing a bigger concern for some people looking to buy and sell real estate. Outside of new construction inventory is still very low across the nation, but with the interest rates remaining higher than they've been recently it could bring in more inventory in the next few months.
Real estate is regional and there's a reason that people still say, "Location Location Location". Where you buy a home or where you sell a home matters. Let's pay attention to the supply and demand in your local areas along with how much new construction is around your neck of the woods.
New Home Sales Plunge 16.5% in April 2022. This is an early indicator. of a softening market.
https://www.cnbc.com/2022/05/24/sales-of-newly-built-homes-fall-16percent-in-april-as-prices-soar.html
Bill Black's Article on the current housing situation for May 2022
https://www.linkedin.com/pulse/housing-longer-fire-hot-far-from-ice-cold-bill-black-/?trackingId=Y65%2FAqZvTFWqLjCXpbfNvw%3D%3D
Jobless Claims May 14th in the United States
https://tradingeconomics.com/united-states/jobless-claims#:~:text=US%20Jobless%20Claims%20Rise%20to,market%20estimate%20of%20195%20thousand.
#housing #NewConstruction #HousingBubble #RealEstate #TheBubble #TristanAhumada
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