Analysts expected a 3rd straight month of declines in new home sales in March, but they did not see this bloodbath coming. New Home Sales crashed 8.6% MoM (vs -0.6% exp). That drags new home sales down 12.6% YoY.
This is the biggest drop since April 2021 and this is the start of the busiest season in the year for housing. This is the lowest SAAR since Nov 2021…
Finally, there is no ignoring the fact that home sales are going to be affected by the record surge in mortgage rates in the last month or so…
DRHorton claims that 10% of buyers will be impacted BUT also claims that there are plenty more behind them ready to bid for new homes…
We shall see!
More From The Real Estate Guys…
- Sign up for The Real Estate Guys™ Free Newsletter
- Check out all the great free info in our Special Reports library.
- Don’t miss an episode of The Real Estate Guys™ radio show. Subscribe on iTunes or Android or YouTube!
- Stay connected with The Real Estate Guys™ on Facebook, and our Feedback page.
The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training, and resources to help real estate investors succeed.
Broadcasting since 1997 with over 600 episodes on iTunes!
Love the show? Tell the world! When you promote the show, you help us attract more great guests for your listening pleasure!