According to the National Association of Realtors (NAR), existing home sales tanked -5.44% YoY in March.
At the same time, the INVENTORY of existing home sales rose in March, but still remains near its lowest level since 1999.
Existing home sales Median Price YoY has slowed to 3.8% with The Fed’s quantitative tightening (QT). As opposed to 13.4% YoY during The Fed’s QE3.
Time to bring out your Fed!