#silentdepression #newhomesales #shadowinventory

M3 Market Update is a review of the current state of housing (including long and short-term rental), commercial real estate and mortgage finance with relevant data and drivers. Not investment advice.

Trying a new format where I do an update at the beginning of the week and then a deep dive later in the week on inventory.

For today's segment I discuss New Home Sales. There is a lot of data out there that gets translated in myriad ways that can be extremely confusing. If you watch this channel, though, you can chill out because we will discuss it, digest it and decide if it changes the path of housing. Today's data is interesting, but not definitive - just another mile marker. But there are signals in the sales distribution of what is to come, including further price concessions, especially in Florida where inventory is exploding in some areas.

Link to New Home Sales: https://www.census.gov/construction/n...

Link to my Explanatory Tweets: https://x.com/m3_melody/status/176213...

https://x.com/m3_melody/status/176214...

General Reference & Recommendations:

1) #silentdepression - For a review of what's really been going on in the economy since 2007 to understand the path of housing:    • We Are Living In A Silent Depression ...  . Follow @emilkalinowski on Twitter or YouTube.
2) Eurodollar University YouTube Daily Briefing:    / @eurodollaruniversity  
3) The term Eurodollar sounds kinda weird and the concepts are complicated, so I recommend going back to the very beginning where they lay it out very simply. This is a MASTER CLASS in monetary policy and the plumbing of the financial system:    • Video  
4) And for an episode on some of the myths surrounding the Fed:    • Market Rates Refusing to Follow Fed's...  
5) The Fourth Turning: https://www.amazon.com/The-Fourth-Tur...
6) A Brief History of Doom: https://www.audible.com/pd/A-Brief-Hi...
7) Swamp Peddlers - https://www.amazon.com/Swamp-Peddlers...

FHFA Home Price Index: https://www.fhfa.gov/AboutUs/Reports/...

Case Schiller Home Price Index: https://fred.stlouisfed.org/series/CS...


Please reach out to me with questions or comments:
Twitter: @m3_melody
LinkedIn:   / melody-wright-44204a4  
Substack: https://m3melody.substack.com