Interesting Impact
10/04/2023 |
High rates may finally be having an impact. August data showed M-o-M housing starts down 11.3% to their lowest level since 6/20, the housing index down sharply M-o-M for the second month in a row, and new home sales weakening 8.7% M-o-M, the biggest decline since 9/22. Existing housing sales slipped to their lowest level since 1/23, August pending home sales fell 7.1%, and auto sales slumped 4.6% M-o-M.