​US Existing Home Sales Tumble Back Near 14-Year Lows In August – Tyler Durden

US Existing Home Sales Tumble Back Near 14-Year Lows In August With Housing Starts and Building Permits jumping exuberantly on the heels of declining mortgage rates (and mortgage applications spiking), today’s existing home sales data for August should be an interesting barometer for just how crazy The Fed’s decision to slash rates by 50bps was (with home prices at record highs and rising fast). Perhaps shocking to some, existing home sales disappointed in August, dropping 2.5% MoM (vs -1.3% MoM exp) leaving sales down 4.22% YoY. Source: Bloomberg There hasn’t been a positive YoY sales comp since July 2021 as…  — Continue at ZeroHedge News : Read More