New Home Prices are now down 20% from their highs, in bear market territory, and falling faster than rates seen in 2008.
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Source Re:Venture Consulting pic.twitter.com/ZCSU0jgxVA
— Wall Street Silver (@WallStreetSilv) March 27, 2024
So far, the demand signals have only continued to decline
Mortgage apps were down YoY throughout all of 2023 and 2024
Existing home sales have been down YoY (SA) throughout all of 2023 and 2024
Same with pending sales, with one exception (Dec)… 1/2 t.co/lMglYE8PNB
— Marcel (@artimidore) March 28, 2024
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