US Housing & Consumer Health Flash Multiple Warning Signs
Pending home sales hit an all-time record low, homebuilder confidence is at 2012 lows, and for the first time since 2023, inflation is outpacing wage growth — a cluster of bearish consumer data arriving simultaneously.
What we know
Charliebilello flags a convergence of bearish housing signals: pending home sales collapsed to their lowest level ever recorded, below even the April 2020 COVID lockdown trough — the housing market is 'essentially frozen' an account on X. Homebuilder confidence is at its lowest since 2012, with a record 43% of builders cutting prices and 65% offering incentives for the 19th straight month above 60% another account on X. For the first time since 2023, prices in the US are rising faster than wages — marking a real decline in prosperity for American workers another account on X. Partially offsetting this, Case-Shiller 20-city home prices beat at +2.7% YoY (est +2.6%), accelerating from July's 2.5% another account on X. ADP private-sector hiring slowed for a second straight week to 16,750 avg weekly jobs — well below the late September peak of 26,000 another account on X.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.