US Pending Residence Gross sales Decline For thirteenth Straight Month, Down -34.3% YoY As Fed Tightens (UMich Housing Sentiment At 44, Effectively Under 100)

by confoundedinterest17

The US housing market continues to wrestle as The Federal Reserve continues to combat inflation. At present’s pending residence gross sales are one other nail in housing casket.

Pending residence gross sales declined -34.4% year-over-year (YoY) as M2 Cash progress went detrimental (-1.3% YoY).

No less than UMich shopping for situations for housing elevated … to 44, effectively under 100.

There isn’t a home-building bubble.
No means, no how, not an opportunity. pic.twitter.com/l4hU9QxwRB

— Michael Taylor (@Mike_Taylor1972) January 26, 2023