WS #16176
The US housing market is showing signs of severe stress, with housing starts falling 5.2% in September to an annual rate of 1.221 million, the lowest level in months. This decline coincides with pending home sales hitting a 25-year low, driven by mortgage rates breaking the 7% threshold. The data suggests a sharp deceleration in residential construction and consumer spending, posing a bearish signal for homebuilders, materials, and broader economic growth expectations.
US Housing Market Deterioration
The US housing market is showing signs of severe stress, with housing starts falling 5.2% in September to an annual rate of 1.221 million, the lowest level in months. This decline coincides with pending home sales hitting a 25-year low, driven by mortgage rates breaking the 7% threshold. The data suggests a sharp deceleration in residential construction and consumer spending, posing a bearish signal for homebuilders, materials, and broader economic growth expectations.