Friday, January 11, 2019

Creeping...


Image result for new home sale cartoon

Because of the partial government shutdown, figures on home sales for November and December have not been released.
Sales were also down a steep 19 percent annually in November, according to JBRC's analysts. 
New homes sales took a hit as mortgage rates rose sharply at the start of last fall, putting further stress on a market where prices had been overheating for the past two years.
The nation's largest public builders reported in quarterly earnings reports that the housing market softened dramatically.
New home sales fell hardest in California, where prices are highest, according to JBRC. Sales dropped 40 percent annually in northern California and 49 percent in southern California. Sales were just 5 percent lower in the Midwest, where homes are far less expensive.

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