After all, higher mortgage rates tend to impact housing faster than other sectors. When it comes to the monthly supply of new homes, if the single-family permits and 5-unit permits fall together, construction labor is at risk once the backlog of new homes is completed.
Today, even with 9.1 months of supply, we only have 98,000 completed new homes for sale. Even during the housing bubble crash, the monthly supply data never got to 200,000 homes. This amounts to less than two weeks of new listings of existing homes that come on the market.
#housing-market #construction-industry #economic-recession #residential-construction #monthly-supply-data
[
add
]
[
|
|
...
]