Happy Friday. Brian Manning here. Let’s get right to it. Monday this week, pretty quiet news day. Tuesday this week, we had trade wars really impacting the markets, and you think investors are starting to realize some potential unintended consequences based on the tariffs and the trade wars, as well. These items that are created in the US and they’re sent to China to be assembled, and then potentially they’re going to be impacted by these tariffs when they’re reimported back into the US. So that had a little bit of an impact on the markets on Tuesday.
Wednesday’s we’ve got builders sentiment. Builders sentiment was down a little bit. Builders have identified 6,000 products that go into building a new construction home, and of the 6,000 products, there’s potentially 600 that are going to be impacted by these tariffs and trade wars, as well, which could potentially increase the cost of building a home, so it had a little bit of an impact builder sentiment.
Thursday this week, we got existing home sales. Existing home sales were flat, and then we also discussed some feedback on first-time home buyers. First-time home buyers on the year-over-year basis are at 31% of all purchase transactions, so still they’ve really been in that 30 to 33% range for quite a while now, so still pretty consistent there.
Today quiet news day. Not really much to talk about. I’m around on the weekend. If you have any questions, let me know. I’d love to help you. Love to be a part of your business. Happy Friday. Have a great day.