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Real Estate Takes Another Hit

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Real Estate Takes Another Hit

(New York)

Real estate has been the metaphorical whipping boy of data releases this year. The market has been largely slumping for months, with home sales mostly slowing as rates rose. Now more data has been released, and despite generally bearish sentiment, the numbers still surprised to the downside. In the month of November, pending US home sales felling a whopping 7.7% from a year previously. To be clear, pending sales mean signed contracts to buy homes (closings are usually 45 days later), which mean they are a good leading indicator.

FINSUM : Is it any wonder that four rate hikes this year have hurt the housing market? The question is whether the same will happen to the economy and real estate is just showing the effects first.

  • rates
  • recession
  • real estate
  • housing

    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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