Has Housing Market Activity Peaked?

Following the release of housing starts this week, Sharon Nunn wrote in the WSJ: Housing Market Stumbles at the Beginning of Summer . She quoted Ian Shepherdson, chief economist at Pantheon Macroeconomics as telling clients: "Housing market activity – sales and construction – likely has peaked for this cycle." If correct, that would be significant for the economy. First, I think it is likely that existing home sales will move more sideways going forward. However it is important to remember that new home sales are more important for jobs and the economy than existing home sales. Since existing ......(read more)

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