Grizzly Bear! US Present House Gross sales Crash -14.24% YoY In June As Fed Strangles Housing Market (Median Worth 13.27% YoY As Stock Nonetheless MIA)

by confoundedinterest17

As a substitute of The Boston Strangler, we now have the DC Strangler. Higher referred to as The Federal Reserve and their battle on inflation.

US present dwelling gross sales crashed -14.24% YoY and -5.40% MoM in June as The Fed tightens its icy grip on the housing market. Present dwelling gross sales have been decrease than anticipated at 5.12 million dwelling bought SAAR.

Median value for present dwelling gross sales declined to 13.27% YoY as stock obtainable on the market stays MIA. And The Fed’s stability sheet remains to be out in drive.

The US housing market by way of gross sales has entered a bear market, however with The Fed’s stability sheet stimulus nonetheless searching asset costs, it’s a grizzly bear market by way of affordability.