{"id":22484,"date":"2025-05-23T09:44:24","date_gmt":"2025-05-23T08:44:24","guid":{"rendered":"https:\/\/latribune.lazardfreresgestion.fr\/?p=22484"},"modified":"2025-05-23T09:44:24","modified_gmt":"2025-05-23T08:44:24","slug":"the-u-s-residential-real-estate-market-at-a-crossroads","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/the-u-s-residential-real-estate-market-at-a-crossroads\/","title":{"rendered":"The U.S. Residential Real Estate Market at a Crossroads"},"content":{"rendered":"

Chart of the Week<\/h2>\n

The U.S. residential real estate market is navigating through a challenging period. The latest NAHB Housing Market Index reveals a further decline in builder confidence, hitting its lowest point since December 2022. Additionally, building permits for single-family homes have dropped by 7% over the past two months.<\/p>\n

\"\"<\/p>\n

OUR <\/b>ANALYSIS<\/b><\/h3>\n

This situation is largely driven by persistently high mortgage rates, which continue to weigh on sector confidence. Sales of existing homes remain sluggish. Transactions in the new-build market are looking more positive, but the number of homes for sale has risen sharply to levels not seen since the 2008 financial crisis. This increase could lead builders to scale back on new construction, particularly as vacancy rates normalize after their post-Covid lows.<\/p>\n

The construction sector had been building many homes with a limited number of workers, reflecting high productivity. Now, the ratio of homes under construction to employment has returned to normal levels. With fewer projects underway, any further slowdown could lead to job losses.<\/p>\n

With high financing costs and high home prices, the residential sector remains under close watch. The coming months will be crucial in determining whether this market can regain some balance or if it is headed for another contraction cycle.<\/p>\n

***<\/p>\n

Written on 23 May 2025. Opinions subject to change.<\/p>\n

See also: Credit markets have wiped out the March-April shock<\/a><\/p>\n

This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS. LAZARD FRERES GESTION \u2013 a simplified joint stock company with share capital of \u20ac14,487,500 \u2013 Paris Trade and Companies Registry No. 352 213 599. 25, RUE DE COURCELLES \u2013 75008 PARIS, FRANCE<\/p>\n","protected":false},"excerpt":{"rendered":"

Chart of the Week The U.S. residential real estate market is navigating through a challenging period. The latest NAHB Housing… <\/p>\n","protected":false},"author":101016,"featured_media":22482,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[2594,1921],"class_list":["post-22484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week","tag-real-estate","tag-us"],"yoast_head":"\nThe U.S. Residential Real Estate Market at a Crossroads<\/title>\n<meta name=\"description\" content=\"The U.S. residential real estate market is navigating through a challenging period. 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