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Honored Social Butterfly

Re: New Home Sales Falling - Inflation Rising

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The Stock Market is going down , it must be Obama's or Hillary's fault !!!

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Honored Social Butterfly

New Home Sales Falling - Inflation Rising

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The Trump economic recovery, which followed after the long term Obama recovery, seems to be running out of steam. Factor in larger deficits, trade wars, rising interest rates, dropping out of the TPP, etc. we are beginning to see signs of an economy which is beginning to head south.

 

  • Sales of new U.S. single-family homes fell to a near two-year low in September and data for the prior three months was revised lower, the latest indications that rising mortgage rates and higher prices were undercutting the housing market.
  • June and July sales rates were also revised lower. New home sales have now declined for four straight months.

Sales of newly built homes dropped 5.5 percent in September compared with August, and were 13 percent lower compared with a year ago, according to the U.S. Census. This was well below predictions, even with higher rates factored in.

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