The following chart shows the 12-month moving total of new one family housing units sold per capita.
Click to enlarge.
Let's zoom in for a closer look.
Click to enlarge.
Due to the exponential trend failure, we can no longer expect a complete housing recovery in 2017. The new estimate is just this side of never.
Source Data:
St. Louis Fed: Custom Chart
But new home prices recovered very nicely, thank you.
ReplyDeleteJoseph Constable,
ReplyDeleteWho could have known that re-inflating new home prices would lead to struggling new home sales again?
Sigh.
Tank slapper.
ReplyDeleteRob Dawg,
ReplyDeleteI think they might have dampened the tank a bit on this last pass. Got high median new house price molasses? D'oh!