US Housing Market Faces Demand Collapse

US housing market demand is collapsing:

US new home sales fell -17.6% MoM in January, to 587,000 units, the lowest since 2022.

This marks the largest monthly drop since July 2013, far worse than the -2.7% expected.

YoY, sales fell -11.3%, the worst annual decline in 3 years.… pic.twitter.com/P83bRHPur4

— The Kobeissi Letter (@KobeissiLetter) March 22, 2026