From Tyler Durden: The US housing market is anything but healthy and even most bullish of realtors (especially since “it is difficult to get a man to understand something, when his salary depends upon his not understanding it”) is admitting that all is not well.
From Bill Conerly: We are not in a housing bubble. The tool that helped me identify the last bubble–measuring new construction relative to population growth–helps me now say we are not overbuilding.
From Bryce Coward, CFA: Today, economy watchers were treated to more of the same from the housing market. That is, more weak numbers suggesting we may have seen the peak in housing activity for the cycle.
From Chris Kimble: We did an earlier chart reflecting that home builders are diverging similar to 2007.
From Chris Kimble: Interest rates are steadily creeping higher. And housing, as measured by the several housing related ETFs and Indexes is facing a slowdown. And not very many people are talking about it. Well, it’s time to put it on your radar!
From Knowledge Leaders Capital: Sooner or later, higher mortgage rates (which are keyed off of the 10-year treasury yield) were always bound to start slowing the housing market.
From Zacks: The U.S. housing market has started to show signs of respite given the slew of upbeat data. After two months of consecutive decline, new home sales rebounded in August, climbing 3.5% to a seasonally adjusted annual rate of 629,000.
From Adem Tumerkan: Many of you know that I haven’t been exactly bullish on the U.S. housing market – especially the construction stocks.
From Jill Mislinski: Thursday’s release of the July New Home Sales from the Census Bureau came in at 627K, down 1.7% month-over-month from a revised 638K in June. The Investing.comforecast was for 643K.
From Jill Mislinski: Wednesday’s release of the July Existing-Home Sales decreased from the previous month to a seasonally adjusted annual rate of 5.34 million units.
From Jill Mislinski: Last week, we reported separately on the latest residential building permits and housing starts in the government’s monthly report, courtesy of the Census Bureau and the Department of Housing and Urban Development.
From Tyler Durden: Following April’s modest slowdown in home price appreciation (albeit still at record highs), Case-Shiller’s 20-City Composite continued to decelerate (modestly) in May, rising 6.51% YoY (weakest since Jan 2018).
From Jill Mislinski: This week the National Association of Realtors released the June data for their Pending Home Sales Index.
From Chris Kimble: Are the Homebuilders experiencing a case of Deja Vu? Is it 2006 all over again?
From Jill Mislinski: This morning’s release of the June Existing-Home Sales decreased from the previous month to a seasonally adjusted annual rate of 5.38 million units.