Higher yields slow housing activity, Homrich & Berg says
TLT•Homrich & Berg said higher yields slowed housing activity, with pending home sales down more than 7% month over month and housing starts near their lowest levels since 2020.
1. Housing activity slows
Homrich & Berg’s October 26 market review said higher yields slowed housing activity during the week ended October 23. Housing starts reached one of their lowest levels since 2020, while pending home sales fell more than 7% month over month.
2. Other economic indicators
Initial jobless claims remained below expectations, which the review said signaled stable labor markets. The Conference Board Leading Index was flat after declining in August.
