Quikrete Industry Dashboard

Housing starts, existing home sales and a rebounding stock market
Click image to enlarge.

The latest Quikrete Industry Dashboard shows activity for existing home sales down for the fifth consecutive month, according to the National Association of Realtors. From an annual-rate peak of 6.49 million in January, the June figure has fallen to 5.12 million

Another streak reported by the NAR: June marked. The 124th consecutive month of year-over-year increases in the median price of a home, which stands now at $416,000

“Falling housing affordability continues to take a toll on potential home buyers,” said NAR Chief Economist Lawrence Yun. “Both mortgage rates and home prices have risen too sharply in a short span of time.”

Also falling are the numbers from residential construction. Total housing starts declined from an upwardly revised May figure, while single-family starts fell below a seasonally adjusted annual rate of 1 million for the first time since June of 2020.

There was news of a positive nature as well on the updated Dashboard. Gas prices have retreated from the $5-per-gallon level (regular gas), and stand at $4.44 on average, according to the tally from the American Automobile Association. Of course, that’s still a long shot from $3.16 one year ago.

Also, in a dramatic change from nine of the 10 ticker symbols on the Stock Watch are up for the month, with BLDR up nearly 30 percent.

# # #

Coming next: The New York-based Conference Board will release the closely watched Consumer Confidence Index on July 26. In June,  the index was 98.7, after 16 consecutive months above 100. 

Related Content