Existing-Home Sales Likely Slowed in August
swhy: In the context of the Federal Reserve's interest rate cut, interest rate-sensitive real estate and manufacturing sectors may benefit.
The Federal Reserve's September meeting statement believes that progress has been made in achieving the target inflation, while job growth has slowed down and inflation and employment risks are roughly balanced. The meeting lowered the policy interest rate by 50 basis points and continued with the planned balance sheet reduction.
August Existing Homes Sales Expected to Ease After July Rebound
Why There's 'a Story of Two Different Housing Markets'
Before the resolution, good news came from the usa housing market! Last week, mortgage rates hit a two-year low, and new home construction in August reached a four-month high.
The mortgage loan interest rate continues to decline, further boosting confidence in the US real estate market. Last week, the refinancing mortgage application index hit a new high of over two years, and construction permits in August rose to the highest level in six months.
The increase in the number of new home starts in the United States in August reached a new high since April, as builders weigh inventory against demand prospects.
The annualized rate of new home construction in the United States in August was 9.6%, significantly higher than the market's expected 5.8% and the previous value of -6.8%; the total annualized number of new homes started in August in the United States was 1.356 million households, also higher than the market's expected 1.31 million households and the previous value of 1.238 million households, reaching the highest level since April of this year.