On today’s show we are talking about the softening of the residential housing market that is underway across both the US and Canada.
The seasonally adjusted numbers are in for the month of June which now shows four months of steady decline compared with the previous months. Again, we need to remember that these are seasonally adjusted numbers. The June numbers are still about 2% higher than the same period in 2024.
This is true for the top 20 primary markets across the US as well as the national averages. The numbers are pretty consistent for both the Case Schiller report as well as the National Association of Realtors.
The national home builders are also experiencing falling demand. New single family home sales have fallen by 6.6% in the first six months of 2025.
Home builders have tried to adapt to the falling demand by building smaller and more affordable homes. But sales have fallen even with these adaptations to market demand.
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