Pending home sales just fell 7.3% in a month | Market Hang

Pending home sales fell 7.3% in September and builder sentiment sits at a 14-year low. Jen Saarbach of The Wall Street Skinny opens on the data, then on a stat that surprised the panel: in several boom cities, newly built homes are now selling for less per square foot than existing ones. Zillow put new homes below existing in a third of major markets on 29 September, with Austin at $184 against $228. Barbara Doran of BD8 Capital Partners is not sure it is more than an anomaly, and argues the freeze is simpler than that: over half of American homeowners are locked in under 4% or own outright. Featuring Barbara Doran, CEO and CIO, BD8 Capital P (Source: Yahoo Finance | Region: New York, USA)