The funk in the housing market could be an important signal about the U.S. economy’s sensitivity to rising interest rates. So could any rebound now that rates have retreated somewhat.
Last year wasn’t a good one for housing. Through October (the most recent data available, thanks to the government shutdown), sales of new single-family homes were down 12 percent from a year earlier.
Read more (from source): Housing market is canary in interest-rate coal mine