Stocks fell on Wednesday as data showed new home sales dropped to a record low in May and investors were cautious before Federal Reserve comments on the economy. The S&P home builders ETF fell to its lowest in more than four months after release of the housing data before reversing the losses. The phase-out of a popular tax credit contributed to the 32 percent drop in sales.
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There are numerous sources for graphs, charts, surveys, calculations and a seemingly infinite number of people and organizations with a stake in the housing market, so it’s difficult to cut through the noise and hear the melody. But in her debut column, HousingWire Columnist Mary Frances Coleman shows you how.
MDK is strongly encouraging clients to embrace the new normal while preparing for a foreclosure volume increase in the not-too-distant future.