The thrill is gone … from all the Covid stimulus out of Washington DC.
Today’s existing home sales were … gruesome. While EHS month-over-month were down only -1.5%, on a year-over-year basis EHS was down a staggering -23.79%.
If you look at the declining growth rate of M2 Money (green line) and rising mortgage rates (yellow line), we can see why the housing market is struggling.
How about median price? That dropped to 8.07% YoY as inventory for sale remains lower than before Covid and Covid stimulypto.
With Fed tightening and historic inflation, we are all living under a bad sign.
The NEW logo for The Federal Reserve! If it wasn’t for The Fed, we would have no luck at all.
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