Slowing? US Closed House Sales Down -9.50% YoY As Mortgage Rates Rise On Fed Tightening (New Listings Down -5.7% YoY)

#bubble, #inflation, Economy, Existing Home Sales, fannie mae, Fed, Freddie Mac, Housing, Inflation, Mortgage, Natural Gas, New Home Sales, Oil, Powell, PPI, REITs, russia, SPX, Stocks, Treasuries, Treasury, Uncategorized, Yellen 1 Minute

US home prices were growing at a near 20% YoY rate for the latest Case-Shiller National home price index report. But mortgage rates have soaring like a SpaceX missile shot.

The result? Closed sales for April 2022 are down -9.5% YoY.

Of course, I am moving to one of the metro areas in the USA where closed sales fell only -1.10% YoY in April: Columbus Ohio. I should move to San Diego CA where closed sales fell -21.4% YoY.

Of course, the US still suffers from lack of available inventory for sale.

April new listings are down -5.7% YoY. Columbus Ohio didn’t change from April ’21. San Diego is down -18.4% YoY for new listings.

Rising mortgage rates? Inflation? What a total fiasco.

Published by confoundedinterest17

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9 thoughts on “Slowing? US Closed House Sales Down -9.50% YoY As Mortgage Rates Rise On Fed Tightening (New Listings Down -5.7% YoY)”

  1. I’m a loan officer here in Columbus, OH. It’s getting bad here. My phone hardly rings anymore. I will send you the link to my app. Thank you

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  2. Moving to Columbus, Ohio? It’s had a huge spike in crime under a “woke” Franklin County district attorney.
    Friends I know are thinking about moving out of the county because of it. You can still be fairly close to the airport and downtown by moving outside of Franklin County.

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