Decline in the existing home sales contract index.

Announced on August 29, 2024, at 23:00.Existing home sales contract index.Result against the previous month's 74.3.70.2It was.

Existing home sales contract index.Is a leading economic indicator.

The announced figure this time70.2is the lowest point after the corona shocklowest valueIt is.

This is.stock market declineThis is the factor.

I thought that the housing market would recover due to the long-term decline in interest rates, but consumers seem to be more concerned about the housing prices than the interest rates.It seems that consumers are concerned about the housing prices being higher.It seems that consumers are concerned about the housing prices being higher.

Considering the time it takes for housing prices to decline, the US economy is likely to stagnate for several months.