re: #157 Kragar

Yep…..here we go.

The numbers: New-home sales ran at a seasonally adjusted annual rate of 553,000 in September, the Commerce Department said Wednesday.

Sales of newly-constructed homes swooned to the lowest since December 2016. September’s selling pace of 553,000 was 5.5% lower than in August, and 13.2% lower than a year ago.

Big picture: The government’s reports on residential construction are based on small samples and often revised heavily, making it unwise to rely on data from any single month for the big picture. But the story so far in 2018 has been one of continuing deterioration. For the year to date, sales are just 3.5% higher than in the same period last year, a measurement that’s been falling steadily throughout the year.

For years, the housing story has been about strong demand, and limited supply. That dynamic may be starting to shift, however, as unrelenting price gains, higher mortgage rates, and scant choices may be nudging would-be homebuyers out of the market.

marketwatch.com