Yes it’s literally this bad out there for housing.
Next up, price drops. No one can afford to buy at these prices with mortgage rates this high.
There’s no demand because there’s no affordability.
If prices dropped, inventory would eventually start moving again. https://t.co/pyAglXFk0B
— QE Infinity (@StealthQE4) November 27, 2024
Today’s new home sales data was awful, with a 17% slump overall in October
But of note, sales in the South fell a whopping 28%
(They’ll blame the hurricanes… it’s always something…)
This is not strong sales data no matter how you frame it
— Amy Nixon (@texasrunnerDFW) November 26, 2024
Worst for who?
Prices are just 40% too high. pic.twitter.com/5jw1vry4Bt
— Darth Powell (@VladTheInflator) November 26, 2024
No need to be alarmed: it gets much worse. https://t.co/cxBWgB6rQP
— The Great Martis (@great_martis) November 26, 2024
👀
Every month of the last 4 months of new homes sales data was just revised LOWER https://t.co/H3GFc1uwOR
— Amy Nixon (@texasrunnerDFW) November 26, 2024
Total unsold new homes for sale now at its highest level since… December 2007
Prices are too high. pic.twitter.com/l9wGMEqf1u
— Don Johnson (@DonMiami3) November 26, 2024