HOBBLED HOUSING
08/25/2025 |
July new home sales were 652,000 seasonally adjusted and annualized, down 0.6% M-o-M and 8.2% Y-o-Y. Worse, it now takes builders 2.9 months to make a sale upon completion, the longest duration in over three years. Making things worse, the median new home price slid 0.8% M-o-M on top of the 3.8% M-o-M decline in June. Prices are now down 6% Y-o-Y, almost 9% after inflation.