An unexpected drop in sales
In October, sales of new homes in the United States registered a surprising drop, with a decrease of 17.3% on a monthly basis. This figure was well below forecasts, which indicated a smaller decline of 1.8% according to the Bloomberg consensus. In addition, the previous figure had been revised upwards, showing an increase of 7% compared to the previous month, a sign that had given hope for a stabilization of the
real estate market.
The causes of the collapse
The reasons for this sharp decline can be attributed to several factors. First, rising interest rates have made mortgages more expensive, discouraging many potential buyers. In addition, general economic uncertainty and inflation-related concerns have helped to create a climate of caution among consumers. Many are delaying buying decisions, waiting for signs of stability in
the market.
Implications for the real estate market
This drop in new home sales could have significant repercussions on the US housing market. Developers may be forced to review their construction plans, while home prices may come under downward pressure. In addition, a decrease in sales could negatively affect employment in the construction sector and other related industries. Experts warn that, if this trend continues, we could see a larger slowdown in
the economy.
