A buildup of unsold houses sitting on the market for weeks is becoming a new reality in once-booming housing areas across the Sun Belt, with homeowners listing their homes due to soaring insurance costs and investors culling rental properties. First American Chief Economist Odeta Kushi has more on the story.
The recent significant decline in new home sales reported by the US, marking its biggest drop since 2014 amidst prevailing market dynamics and economic uncertainties sheds light on potential headwind challenges for residential construction recovery.
The recent substantial decline in new-home sales as recorded by US data since 2014 demonstrates the ongoing impact of market volatility and economic uncertainties on residential real estate, underscoring its susceptibility to shifts in consumer confidence.
The most significant decline in new home sales witnessed since 2023 signals potential market cooling-off amid record highs, raising concerns over the future of real estate demand.
The recent plunge in US new-home sales, marking the sharpest decline since 2023's early months amid heightened interest rates and economic uncertainties signals a troubled market outlook for residential real estate.
The recent decrease in new home sales by the largest margin since 2018 highlights potential challenges for housing market recovery and underscores an increasing need to ease concerns around various economic factors that might have impinged on purchase decisions.
