US Existing Home Sales YoY Fall For Sixth Straight Month As Mortgage Rates Rise

This is a syndicated repost courtesy of Confounded Interest . To view original, click here. Reposted with permission.

US Existing Home Sales for August rose slightly to 5.37 million units SAAR for a 0.5% gain since July. But on a year-over-year (YoY) basis, existing home sales fell 1.50%. That is the sixth straight month of EHS declines YoY.


Of course, rising 30-year mortgage rates aren’t helping existing home sales.


And like magic, The Federal Reserve is making existing home sales growth disappear.


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