Global trade disputes, and the uncertainty, volatility, and risk they cause, are dampening forward momentum of the new home market.
By John McManus | Builder
Construction cost predictability is tricky and growing more difficult at a moment the new home sales narrative plot-line needs practically nothing more right now than predictability.
Yesterday’s existing home sales data on July from the National Association of Realtors, whose total of 5.34 million reflects a 0.7% decline from June, and a 1.5% year-on-year drop, tell a part of the story that should by all rights tilt the playing field more in favor of new home builders.
Overall inventory of existing homes for sale is still tight–having declined for 37 months going back to June 2015, and this past month remained flat, year-on-year.