Midwest Leads Drop in Home Construction, Permits
Midwest and multifamily properties led a country-wide decline in new housing permits and new home construction. The West, meanwhile, kept the pace of completed construction from slowing nationally.
Home Builder Confidence Holds, Buyer Traffic Up
Despite an improvement in buyer traffic for new residential properties, a decline in the outlook for the rest of this year kept home builder confidence from improving.
Fed Conducts Stress Test on U.S. Households
A report from the Federal Reserve Bank of New York indicates that while the household sector is still vulnerable to severe home-price declines, it has recently become less risky.
Rising Home Prices Exacerbated by Tariffs
Just as relief was in sight for rapidly escalating home prices, new tariffs from the Donald Trump administration added more fuel to the fire.
Surge in South Drives Up U.S. New Home Sales
The sale of new single-family properties turned North last month, and it was the South that was responsible for most of the gain. A shift in pricing patterns was detected.
Supply Helps Pull Down Existing Home Sales
Although the supply of homes for sale was the most it's been in eight months, the level is still significantly low and helped drive down monthly existing sales.
New and Completed Construction Up, Permits Down
Home builders started and completed construction on housing units last month at an improved rate. But housing permit activity slowed and could weaken further due to tariffs.
Heavy Lumber Costs Weigh Down Builder Confidence
After making a lackluster comeback last month and led by the South, home builders grew less confident this month. Hurting conditions are recent Trump administration tariffs on Canadian lumber.
Midwest Leads Pending Home Sales Lower
For the fourth time in a row, pending home sales have fallen below their year-earlier levels amid persistent inventory issues. A decline from a month earlier was led by the Midwest.
Home Prices Continue Rising
Anyone looking for relief from rising home prices didn't find it in the latest set of home price indices. Markets in the western half of the country continued to dominate the increases.