LITERALLY, A FALLING HOUSING MARKET! This week’s release of July New Home Sales did little to add a glimmer of hope in the near term, as red numbers were abundant. The July New Home Sales number came in at a dismal SAAR of 511K, missing the consensus mark of 575K by a mile. OUCH! After June’s much lower than expected 590k annualized rate and a sharply downward revised 642,000 in May, sales of new homes are really starting to feel the impact of the weak economic conditions. With the final full week of August in the books and autumn just around the corner, let’s dive in to see what else transpired this past week in the place I like to call: 'The Wonderful World of Wood”. Enjoy…
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