Posted on 12/20/2023 7:34:27 AM PST by Kaiser8408a
For November, US existing home sales are down -7.28% since last year. At least that is an improvement over -14.6% YoY in October.
But, the gap between current rates and effective rates for Americans is still immense…
Source: Bloomberg
The median existing-home price for all housing types in November was $387,600, an increase of 4.0% from November 2022 ($372,700), but down MoM…
All four U.S. regions posted price increases.
“Home prices keep marching higher,” Yun added.
“Only a dramatic rise in supply will dampen price appreciation.”
Well, with housing starts accelerating in the latest data and Powell’s massive pivot, has The Fed re-ignited its 3rd housing bubble?
(Excerpt) Read more at confoundedinterest.net ...
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