Odd Lots
One Chart Shows How the Entire Housing Market Got More Expensive
A Lennar Corp. development under construction in San Diego last September.
(Bloomberg)
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This morning we got data showing rising prices for new homes alongside falling sales in the month of May.
There’s been clear deceleration in the space lately, due to a combination of supply, land and labor constraints, as well as perhaps some tapering of demand due to high prices.