December 24, 2018 – Stock market hit again with DOW down 650 points as of this writing. If this will make a substantial rebound remains to be seen. But on the Real Estate side it’s much more to the positive side.
Tuesday last week we had annualized number of new residential building permits issued during the previous month up more than expected to 1.33 million units. Also Housing starts – the annualized number of new residential buildings that began construction during the previous month rose more than expected to 1.26 million units.
But wait the is more as existing home sale also rose more than expected (annualized number of residential buildings that were sold during the previous month, excluding new construction) to 5.32 million units.
Bottom line is that perhaps some of the money drawn from the stock market finds it’s way into the more stable real estate market.