Housing market fluctuations
Sunday, January 8th, 2006Residential construction spending remained strong in November, despite the slow rise in interest rates. U.S. Census Bureau - Department of Commerce, published this information and part of this total spending is commercial and part private.
While construction is still doing strong, actual new home sales dipped. Well, dropped might be the right term as we saw a largest drop in twelve years – a sign perhaps? Building houses takes ages and therefore supply is slow to react any demand changes. If this is some kind of culmination point, we will see that housing prices will level off and maybe even turn downhill.
