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Chart of the Day: Existing Equal to New

Crews Bank & Trust Wealth Management Services Sep 26, 2023
existing homes in green, and new homes in purple. The two lines meek at $416k

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Today’s Chart of the Day from The Kobeissi Letter, @KobeissiLetter on X, shows that the prices of new homes are falling and are now the same price as existing homes. Going back to 2008, this is normally not the case (think in reference to new vs. used cars). The reason given is that so many homes are locked into low rates and that supplies of existing homes are falling, which makes them more expensive. This scenario paired with the declining cost to build new homes as supply chains open up, and voilà, prices are now equal.

Price parity is not a normal state of affairs, so it will be interesting to see which side gives out first.
Chart of the Day

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Crews Bank & Trust Wealth Management Services
Crews Bank & Trust Wealth Management Services

Experienced professionals from our wealth management services team can help you achieve a bright financial future through investment strategies tailored to you. We’ll show you all of the options available and help you choose the ones best suited to you. We’ll provide high-quality, personal service as we work toward your goals together. Our Portfolio Managers do not receive commissions on trades; our recommendations of investments are based solely on your best interests.

Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.

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