"The National Association of Home Builders' monthly gauge of confidence in new-home sales plunged in May to 17 from 22 April, putting the index close to its recession nadir."
This has always been a precursor to price drops. This, coupled with a 35% decline in loan applications, is a hands-down win for the housing bears.
"The National Association of Home Builders' monthly gauge of confidence in new-home sales plunged in May to 17 from 22 April, putting the index close to its recession nadir."
This has always been a precursor to price drops. This, coupled with a 35% decline in loan applications, is a hands-down win for the housing bears.
#housing