Real Estate Slowdown Continues
CNNMoney has been tracking the growth of new residential builds and July has continued the trend of a slowdown. Building permits have also dropped more than expected which is a precursor to new builds. According to CNNMoney, typically these slow downs are due to changes within the economy such as a rise in interest rates or a downturn in employment but they cite the reason for this slowdown is the glut of new and existing homes on the marke that aren’t moving.
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