More Unaffordable Houses. Less Sales

by | 23 Apr, 2019

More Unaffordable Houses. Less Sales

Home sales fell sharper than many had expected in March, marking a near 5% contraction from the month before, and showing that the housing market still remains fragile after a weak 2018.

New home sales numbers will be released later today. After showing signs of topping out throughout 2018, sales have gradually been trending up ever since the market started pricing in expectations for the Fed to scale back its hawkish bias toward the end of last year. This reflects expectations of lower mortgage costs as interest rate expectations loosened.

While indications are that the pace of expansion in the US real estate sector is slowly starting to grind lower, there are no indications that the sector is in real pain as yet. Being an interest-rate sensitive sector, dovish overtures by the Fed will likely support lower rates.

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.

 

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