• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

NAR Finally Admits Rising Rates Crippling Housing

Tyler Durden's picture




 

Pending home sales missed expectations for the first time in 3 months, falling 1.26% MoM (vs a 0.0% expectation). This forward-looking measure of housing based on actual contract signings suggests that all the anecdotal evidence of an artificial echo-boom in real estate coming to an end. With the West down 4.9% and Northeast down 6.5% MoM (the biggest 3-month drop in 3 years), even the much-vaunted fair-and-balanced National Association of Realtors are forced to admit that "higher mortgage interest rates and rising home prices are impacting monthly contract activity." Whocouldanode?

 

 

as the Northeast sees the biggest 3-month drop in three years!

 

and don't hold your breath...

 

 

Charts: Bloomberg

0
Your rating: None
 

- advertisements -

Do NOT follow this link or you will be banned from the site!