Home prices hit a record high
Daily Data: So why are homebuilders so sad?
In today’s dispatch:
home prices hit an all time high
strangely, no one wants to build new homes, and homebuilders are sad
discounts everywhere, but not in the indexes
the indexes are a little hazy, and that’s ok
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Last week, you may have seen a headline like this:
Home prices hit a record high!
Home sales, however, continued to plummet. Presumably, home prices are so darn high, that sellers just can’t be convinced to sell.
Can you believe it?
Prices are so high that no one feels like building new homes
You might have also seen some data like this . . . building starts for both multifamily and single family have rolled over:
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