According to recent publications, in May, new home sales in the United States fell to 619 thousand, down 11.3% for the month and 16.5% for the year. The volume of unfinished housing sales in May decreased by 2.1%, falling below the recessionary low of April 2020. This is the lowest level since records began in 2001.
The reason for this dynamics is the rise in prices. Particularly interesting is that the average price of an existing home has risen above the average price of a new home. This has happened only once since 2005. Another sign that the housing market is starting to stall, which calls into question the broader economic outlook.
How will we survive the recession?
submitted by /u/dll_crypto
[link] [comments]