Friday’s gross-domestic-product report showed that residential investment, which includes construction and brokers’ fees, fell for a third quarter out of four.
It was another confirmation that the US housing market is in a slowdown.
Sales of luxury and affordable housing have been declining for months.
There’s plenty of demand for buying houses, but it’s getting harder to do so successfully in America.
The US housing market is slowing down.
Friday’s report on US economic growth spurred a presidential victory lap after it showed that gross domestic product rose at a 4.1% annual rate, the fastest in nearly four years