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United States New Home Sales - plunged 12.6% MoM

Sales of new single family houses in the US plunged 12.6% month-over-month to a seasonally adjusted annualised rate of 511K in July of 2022, the lowest reading since January of 2016 and well below forecasts of 575K, amid rising borrowing costs, prices and a fall in demand.

It's interesting market didn't react much but for me it's big red flag in Housing Market. We can see similar downtrend in others countries too.

So what are your thoughts in this numbers and what does it mean for future ?

submitted by /u/Jandys96
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/wwde6q/united_states_new_home_sales_plunged_126_mom/
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