Pending home sales just fell 7.3% in a month | Market Hang
Pending home sales fell 7.3% in September and builder sentiment sits at a 14-year low. Jen Saarbach of The Wall Street Skinny opens on the data, then on a stat that surprised the panel: in several boom cities, newly built homes are now selling for less per square foot than existing ones. Zillow put new homes below existing in a third of major markets on 29 September, with Austin at $184 against $228. Barbara Doran of BD8 Capital Partners is not sure it is more than an anomaly, and argues the freeze is simpler than that: over half of American homeowners are locked in under 4% or own outright.
Featuring
Barbara Doran, CEO and CIO, BD8 Capital Partners
Jen Saarbach, Co-host, Market Hang, and Co-founder, The Wall Street Skinny
Kristen Kelly, Co-host, Market Hang, and Co-founder, The Wall Street Skinny
Nancy Tengler, CEO and CIO, Laffer Tengler Investments
Kenny Polcari, Partner and Chief Market Strategist, SlateStone Wealth
Watch the full episode: https://youtu.be/PLACEHOLDER-REPLACE-BEFORE-POSTING
Timestamps
0:00 The bleakest data in years, and the stat that surprised the panel
1:12 Careful, we are into the fall season
2:23 Who is actually buying these apartments?
3:54 Tahoe, and what a lakefront does to a price
6:03 Half of homeowners are under 4% or own outright
7:40 A $100,000 house and a $1 million patch of dirt
#HousingMarket #MortgageRates #RealEstate #MarketHang #YahooFinance
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