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The latest sales data are near worthless; homebuilders are still under pressure.
Permits still lower than in early 2025; a further drop beckons.
The outlook for homebuilders remains tough.
Weak underlying sales probably a sign of what's to come.
Signs of stabilization, but big headwinds remain.
October's strength in control sales looks unlikely to last.
Weak jobs market continues to depress consumers.
Boost from lower rates likely has only a bit further to run.
Dip in mortgage rates providing only a small tailwind.
Rates still too high for a sustained housing market renaissance.
Lower mortgage rates boost sales, but major headwinds remain.
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