How the Housing Market Slowdown Is Rippling Through the Economy in Five Charts


Updated Dec. 19, 2023 10:34 am ET

Higher interest rates from the Federal Reserve caused the housing market to seize up this year, and that is now having spillover effects for hardware stores, furniture sellers and construction firms.

Sales of existing homes fell to a 13-year low in October. Economists surveyed by The Wall Street Journal estimate that a report Wednesday from the National Association of Realtors will show sales fell again in November. In a positive sign, home construction activity rose last month after mostly trending lower since early 2022, according to the Commerce Department.

Here is how the recent sluggish housing market has taken a toll on workers and businesses that rely on related spending.

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This article was originally published by a www.wsj.com . Read the Original article here. .