Home-builder stocks, seen as a leading indicator for housing, have fallen 24% since peaking in late April. On Wednesday, the Commerce Department said sales of new homes fell by a third in May to a record low. Yet builders as a group managed to rise on Wednesday as the Federal Reserve reiterated its pledge to keep interest rates near zero to stimulate the economy. One positive in the Commerce Department report was a reduction in inventory.
Builders, data point to slowdown in home sales
Most Popular Articles
Latest Articles
The best real estate podcasts for agents and brokers in 2024
The best real estate podcasts to motivate, inspire, entertain and enlighten you this year.
-
Home sellers saw their profits shrink in the first quarter: Attom
-
If reelected, Trump could seek greater control over Federal Reserve
-
Acra CEO Keith Lind on staying the course amid choppy waters in non-QM
-
HUD walks back some proposed changes to HECM for Purchase program
-
Retirement confidence hasn’t fully recovered, but survey shows hope for future prospects