Updates on Housing and Trade

Recall that the August housing numbers were surprisingly strong across the board, leading a number of economists to proclaim that lower lending rates might finally be having the desired impact on home sales. Both housing starts and building permits had reached 12-year highs in August, while the pace of new home sales had jumped +7.1%, and the annualized rate of existing homes sales climbed to an 18-month high. However, a month later, the September data has disappointed.

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