U.S. Housing Market Weakens Further in December
Abstract:
The U.S. housing market weakened further in December. There was a big step forward in the essential precondition for market recovery — stabilization of the existing home market — with existing home sales steady and the inventory of homes-for-sale declining to 288,000 units below the July peak. But there was no progress in the new home markets. Permits, starts and sales all declined further and the inventory of new homes for sale became two weeks longer.
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The U.S. housing market weakened further in December. There was a big step forward in the essential precondition for market recovery — stabilization of the existing home market — with existing home sales steady and the inventory of homes-for-sale declining to 288,000 units below the July peak. But there was no progress in the new home markets. Permits, starts and sales all declined further and the inventory of new homes for sale became two weeks longer.