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News Link • Housing

Existing Home Sales Tumble YoY For 14th Month - Worst Run Since Housing Crisis

•, By Tyler Durden

This 0.4% decline comes after existing home sales fell 4.9% MoM in March with a tumbling mortgage rate seemingly not affecting the secondary market...

Single-family units fell 1.1% MoM but Condos/Co-ops jumped 5.6% in April (erasing March's 5.3% drop).

Supply increased from 3.8 to 4.2 months (the highest since Oct 2018) as median prices jumped to their highest since July 2018.

Only The West saw an increase in sales (up 1.8% MoM) in April, with the Northeast worst, down 4.5% MoM.

Worse still, existing home sales are still down 4.4% year-over-year...

This is the 14th month in a row of annual declines - the longest stretch since the housing crisis over a decade ago...but that's probably nothing!!

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