Elevated rates keep pressuring US housing market

26.06.24

Elevated interest rates keep pressuring US housing market with new home sales having dropped by 11.3% in May.

The similar situation takes place with sales of existing homes and housing starts which keep sliding down.

Housing market troubles will weigh on the Fed in its decision to eventually start policy easing as residential construction underpins the major part of the economy. Now dynamics of hosing market is negative and keeps deteriorate.