The lock-in effect of interest rates is causing homeowners to be unwilling to sell their properties, leading to second-hand housing prices nearing the level of new home prices in the United States

2024/10/10

The cost of buying a new home now almost equals that of a pre-existing home, a frustrating reality in today's housing market.

The median sale price for new homes in August was $420,600, a mere 1% higher than pre-existing homes at $416,700, during the same period.

Measured by a rolling average of 12 months, the premium for buying a new home is at its lowest level since the 1980s.

"Instinctively, the price of a typical newly-built single-family residence should be higher than that of a typical resale home," says Dietz, Chief Economist of the National Association of Home Builders (NAHB).

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The lock-in effect of interest rates is causing homeowners to be unwilling to sell their properties, leading to second-hand housing prices nearing the level of new home prices in the United States

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In the earnings season for U.S. companies, focus is on five key areas

The U.S. economy is likely to achieve a soft landing, with three key indicators to monitor in the stock market over the next week. Institutions have suggested two strategies to engage in market trends

Loan demand is sluggish, leading to a decline in interest income for Wells Fargo in the third quarter, resulting in disappointing profits

Analysis of U.S. stock market outlook: Limited gains expected next year, experts believe market vitality will decline

If Trump or Kamala Harris achieves a major victory in November, how will the U.S. stock market react? UBS has analyzed six possible scenarios