this post was submitted on 26 Nov 2024
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New home sales plummet 17% to 2-year low as rising mortgage rates sideline buyers (nypost.com)
submitted 1 month ago by [email protected] to c/[email protected]
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[โ€“] [email protected] 1 points 1 month ago* (last edited 1 month ago) (1 children)

It should drive prices down too, but it's not doing that either. Markets are based on whimsy now.

[โ€“] [email protected] 1 points 1 month ago

Eh, I don't think so. I don't think there's an oversupply, inventory seems to also be falling. High mortgage rates discourage both buyers and sellers.