New home sales are forward-looking indicators because they represent signed contracts before construction begins; new home sales strength in 2023 should have signaled to consensus economists that housing market weakness would not produce major construction employment declines, undermining the bearish call.
factualpending
Speaker
Neil DuttaEvidence Quote
“new home sales represent signed contracts right so a contract is signed then builders start to make the house and then people move in and they fill it with things right and so and remember that a Lynch pin for the bearish call on the economy was what that we'd have a big drop in construction employment because of the housing market detonating in 2022 didn't happen”
Created: 8/12/2026, 6:02:32 PM
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