Future indicators show U.S. housing market slowing – Omaha, Nebraska

Omaha, Nebraska 2021-07-25 13:04:48 –

New York, NY: According to published data, the housing and real estate sector, which outperformed a wide range of markets during a pandemic, has returned to pre-COVID levels in many economies suffering from the effects of social distance mandates. I am. this week.

On Monday, the National Association of Home Builders reported that higher input costs and higher home prices seemed to weigh on potential homebuyers’ traffic, easing builder sentiment.

“The housing market hasn’t been cave-exploring yet,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York, according to Reuters. “Have you reached a peak? It’s possible, but in the worst-case scenario it’s leveling off.”

The best news of the week for investors was delivered by the National Association of Realtors on Thursday, with pre-owned home sales up 1.4% to 5.86 million units in June, although rebounds were weaker than expected. ..

Insufficient inventory has firmly supported housing construction, but that support seems to be waning.

Groundbreaking ceremonies for new homes in June increased 6.3%, while building permits, a more positive indicator, fell 5.1% to their lowest in eight months.

These moves return the start and permission to pre-pandemic levels.

According to the latest data, Case-Shiller’s 20-city multi-dwelling price index is up 14.9% annually, and NAHB potential buyer traffic is well above pre-pandemic levels, but 11 It decreased by 15.6% from the top of the moon.

According to the Mortgage Bankers Association, mortgage demand fell 4% last week, but mortgage applications for home purchases fell 18% from the same week last year.

The stock market, the most positive indicator of all measurements, also reflects the slightly diminished luster of housing stocks.

Future indicators show U.S. housing market slowing Source link Future indicators show U.S. housing market slowing

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