US existing home sales slumped for the fourth straight month in June, plunging a worse than expected 5.4% MoM (the worst MoM drop since Nov 2022) and dragging sales down 5.4% YoY…
Source: BloombergNotably, existing home sales have not risen on a YoY basis since July 2021, with the SAAR total back below 4mm, near COVID lockdown lows…
Source: BloombergThe only segment of the market that saw sales rise the $1 million-plus cohort – which saw sales rise 3.6% YoY…
Source: BloombergMeanwhile, the median home price rose 4.1% from last year to $426,900…
Source: Bloomberg…so much for the hopes of a rate cut?More By This Author:“Continued Deterioration”: Goldman Sees “Surplus Market” In Copper, Pushing Prices Lower In “Short-Term”Bitcoin & The Buck Bounce As Biden, Big-Tech, Bonds, & Black Gold Break DownNFLX Shares Slide On Lower Revenue Guidance, Free Cashflow Sinks
