Putnam Perspectives

Putnam’s investment professionals offer compelling analysis of evolving market themes.

A surprising shortage in housing

Michael V. Salm
Co-Head of Fixed Income, September 1, 2015

According to Commerce Department data released in late June, there were 233,000 new homes sold in the first five months of this year - a 24% increase from the same period a year earlier. However, builders still have ground to make up. Even with this spring's sales surge, the market pace of sales in May - 546,000 homes annually, when seasonally adjusted - amounts to roughly 75% of the average annual pace from 2000 to 2014. ... Read more

A surprising shortage in housing

The views and opinions expressed are those of the speaker, are subject to change with market conditions, and are not meant as investment advice.