November US Construction Spending Flat, Residential Building Up
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In October, house prices in the USA reached a new high, but the growth rate slowed down. An increase in listings helped buyers negotiate, with New York leading the top 20 cities.
The latest data shows that in October, the USA housing price Index reached a record high for the 17th consecutive month, although the growth rate slowed down with a year-on-year increase of 3.6%, down from 3.9% in September. In addition, prices in the 20 major cities rose by 4.2% year-on-year, also a slowdown from the previous month's 4.6%, with New York City experiencing the highest increase at 7.3%.
Home Prices Keep Rising. Housing Stocks Have Had a Terrible Year. -- Barrons.com
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US Pending Home Sales Advance to Highest Level Since Early 2023
The USA's November existing home sales Index reached a new high since the beginning of 2023.
In November, the USA's existing home sales Index has increased for the fourth consecutive month on a month-on-month basis. NAR's Chief Economist Lawrence Yun stated that consumers seem to have readjusted their expectations for mortgage rates and are taking advantage of more available inventory. Buyers are no longer waiting or expecting a significant drop in mortgage rates.
U.S. Pending Home Sales Rose in November
November US Pending Home Sales Index Posts Larger Gain Than Expected
These 4 Measures Indicate That D.R. Horton (NYSE:DHI) Is Using Debt Reasonably Well