Is the housing market in the US cooling off? Is relief on the way for homebuyers? I’m seeing more and more data that could be an early sign that the demand for real estate may be weakening in the US.
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New home sales have now fallen to their slowest pace in a year. The street was expecting a 0.5% drop in sales but it was actually much worse than that. This is because the US Census Bureau announced that new home sales dropped 5.9% in May compared to the previous month.
In addition, I noticed that new housing inventory has increased for SEVEN straight months per the Census Bureau’s most recent report. This could be from …