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US Builder Confidence Moves Lower as Market Waits for Rate Cuts
A lack of affordability and buyer hesitation stemming from elevated interest rates and high home prices contributed to a decline in builder sentiment in August. Builder confidence in the market for newly built single-family homes was 39 in August, down two points from a downwardly revised reading of 41 in July, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today. This is the lowest reading since December 2023. “Challenging housing affordability conditions remain the top concern for prospective home buyers in the current reading of the HMI, as both ... (full story)
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From www2.census.gov|Aug 15, 2024The U.S. Census Bureau announced the following new manufacturing and trade statistics for June 2024. The combined value of distributive trade sales and manufacturers’ shipments ...
From bnnbloomberg.ca|Aug 15, 2024|5 commentsUS retail sales accelerated in July by the most since early 2023 in a broad advance that points to a resilient consumer, even in the face of high prices and borrowing costs. The ...
From @DeItaone|Aug 15, 2024|1 commentpost: FED'S MUSALEM: DON'T THINK THE FED IS BEHIND THE CURVE, ECONOMY DOING VERY WELL post: FED'S MUSALEM: JUST HAVE TO BE CONFIDENT THAT INFLATION TREND IS SECURE post: FED'S MUSALEM: RISKS TO CUTTING TOO EARLY OR TOO LATE post:
FED'S MUSALEM: **AM NOT IN FAVOR OF CHANGING INFLATION TARGET **MARKET VOLATILITY HAPPENS ALL THE TIME **AS A POLICYMAKER, ONLY CARE ABOUT VOLATILITY TO EXTENT IT TIGHTENS FINANCIAL CONDITIONS post: FED'S MUSALEM: MODELS SUGGEST INTEREST RATES GOING FORWARD LIKELY TO BE HIGHER THAN PRE PANDEMIC
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- Posted: Aug 15, 2024 10:01am
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 2,186
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