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New Home Sales And Home Prices Argue For Another Cut

New home sales fell by 17.30% in October, marking the most significant monthly decline in ten years, as shown in the graph on the left below. Furthermore, the supply of new homes on the market rose from 7.7 to 9.5 months. Not surprisingly, building permits fell by 0.4% following a 3.1% decline last month due to slowing sales. New home sales have been negative in six of the previous eight months. Furthermore, the Case-Shiller home price index shows weakness in the...

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2024-12-02 – Data portal – Important monetary policy data, 2 December 2024

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