Pushing On A String—Rate Cuts Are Not Goosing Housing

The median price of new single-family houses in September fell 8.8% from a year ago to $299,400 – down 12.8% from the peak in November and December 2017 and back where the median price had first been in November 2014, according to the Commerce Department this morning:






Despite Ultra-Low Mortgage Rates, New House Prices Drop to Multi-Year Low