Grizzly Bear! US Existing Home Sales Crash -14.24% YoY In June As Fed Strangles Housing Market (Median Price 13.27% YoY As Inventory Still MIA)

by confoundedinterest17

As a substitute of The Boston Strangler, we now have the DC Strangler. Higher often called The Federal Reserve and their warfare on inflation.

US current residence gross sales crashed -14.24% YoY and -5.40% MoM in June as The Fed tightens its icy grip on the housing market. Current residence gross sales had been decrease than anticipated at 5.12 million residence offered SAAR.

Median value for current residence gross sales declined to 13.27% YoY as stock accessible on the market stays MIA. And The Fed’s stability sheet remains to be out in power.

The US housing market when it comes to gross sales has entered a bear market, however with The Fed’s stability sheet stimulus nonetheless looking asset costs, it’s a grizzly bear market when it comes to affordability.