The Thrill Is Gone! US Existing Home Sales Plummet -23.79% YoY, Median Price Drops To 8.07% YoY (Longest Decline In EHS Since 2007)

by confoundedinterest17

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.

We are primarily funded by readers. Please subscribe and donate to support us!

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.


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.