New home sales fell for the second month in a row in February, as builders limited them to catch-up with the backlog of homes under construction. Higher mortgage rates will act to cool overall housing demand. But there are plenty of frustrated buyers who have been unable to find a home, and with a record low number of existing homes on the market that implies new sales will grind out a small gain over 2022.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services