US Existing Home Sales Plunge -35.4% In November, 16 Straight Months Of Negative YoY Growth (Median Price YoY Falls To 3.21% As Fed Stimulus Wears Out)

#bubble, #inflation, @MetreSteven @JeffSnider_AIP @DiMartinoBooth @bondstrategist @RaoulGMI @LukeGromen @dlacalle_IA @EconguyRosie @profplum99 @SantiagoAuFund @biancoresearch @pboockvar @SriKGlobal, Agency MBS, Bank of England, Bank of Japan, Banking, CMBS, CRE, ECB, Economy, Existing Home Sales, fannie mae, Fed, Freddie Mac, GDP, Gold, Housing, Inflation, Mortgage, Natural Gas, New Home Sales, Oil, Powell, REITs, Treasuries, Treasury, Uncategorized, Venezuela, Volatility, Wages, Yellen, Yield Curve 1 Minute

One of the big problems with Federal goverment and Federal Reserve monetary stimulus is … it wears out. Just look at M2 Money growth.

US existing homes sales fell -7.70% in November to 4.09 million units SAAR. And since the same month last year, existing home sales are down -35.4% YoY.

Existing home sales were the lowest in November since 2010.

The good news? The median price of existing homes fell to 3.21% YoY. The bad news? The ark is really bad pointing to a bad December. Inventory for sale (orange line) remains below pre-Covid shutdown levels.

Of course, will the Federal government and Federal Reserve come riding to the rescue of the housing market … again? It looks like The Fed is thinking about it.

Published by confoundedinterest17

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