General World News

Why new home sales are disappointing, despite beating estimates

Today’s new home sales report beat market expectations, just like last week’s existing home sales report. However, a detailed analysis of the data explains why housing permits continue to remain at recession-level figures. Builders are struggling to get clarity on how many homes they can sell in this rate environment in the future. Without more clarity on mortgage rates, substantial growth in housing permits is unlikely.

From Census: New Home Sales: Sales of new single-family houses in December 2024 were at a seasonally adjusted annual rate of 698,000, according to estimates released jointly today by the U.S. Census details ⇒

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