“New home sales fell sharply in March as consumer confidence declined to be down 23.2 per cent compared to the previous month,” stated HIA’s Chief Economist, Tim Reardon.
“New home sales data can vary significantly each month, particularly due to changes in consumer confidence. Purchasing a new home is a significant life decision and unless households feel confident in their employment, they tend to delay the decision to build.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
