Sales of newly constructed homes fell by 12.6% in July from June and were down 29.6% from a year ago, according to a joint report from the US Department of Housing and Urban Development and the US Census Bureau. It was the second consecutive month of declines.How much house can I afford? Only 511,000 new homes were sold last month, at a seasonally adjusted annualized rate, down from a revised 585,000 in June. That's the lowest sales number since January 2016.
"While the Federal Reserve attempts to reduce inflation, rising construction and land costs, supply chain disruptions and the labor shortage are contributing to the growing gap between housing demand and supply," he said. New home construction cools as more people get priced out of the housing marketIn the short term, Fish said, controlling inflation will be an important step toward improving the housing market and broader economy.
Unfortunately this is just the beginning with fewer homes rent will skyrocket like never before
⚡️Zelensky: Russia attacks train station in Dnipropetrovsk Oblast, kills at least 15 people. According to Zelensky, Russia attacked a railway station in the village of Chaplyne on Aug. 24, killing at least 15 people and injuring 50.
🙌🏠
JEEStudentsWantJustice JEEMains2022 JEEMainsThirdAttemtForAll
A recession does this. No surprise.
Nobody can afford this bullshit.
I can’t even imagine how’s the real estate market will be?
But we’re not on a recession
Baby world pop 2
This is all my fault. Apologies to all. After apartment living for 15 months, we bought our overpriced house at the end of June.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: nypost - 🏆 91. / 67 Read more »