New home sales down 8% in June which follows a 17% decrease in the month prior. Inventories also up to a 9+ month supply
Pulte says 2Q new home orders down 23% and cancellations have doubled versus this time last year.
Many think the Texas market - DFW specifically - will be insulated but I’m not so sure we can match up mortgage payments with pricing after 200 basis point increase in lending rates. Something has to give.
Pulte says 2Q new home orders down 23% and cancellations have doubled versus this time last year.
Many think the Texas market - DFW specifically - will be insulated but I’m not so sure we can match up mortgage payments with pricing after 200 basis point increase in lending rates. Something has to give.
