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Existing Home Sales Decline 2.2% YoY Despite Declining Interest Rates

Is this the end of the new housing bubble?

Existing home sales YoY have fallen for 16 straight months. And 17 of the last 18 months. All despite DECLINING MORTGAGE INTEREST RATES.

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Note that prior to The Great Recession, inventory and median home prices for existing home sales moved up together. But since 2010, inventory has declined while median home prices have risen.

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Uh oh! Well, when the musics over …

 

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