Sage Investment Club

<ul><li>Existing home sales 4.02M va 3.96M estimate</li><li>Prior month 4.08M vs 4.09M previously reported. </li><li>Sales are down -1.5% MoM</li><li>11th straight month decline</li><li>Supply at 2.9 months with a more balanced market being 4.6 months</li><li>Median sale price $366,900 that is up 2.3% from December 2021</li><li>2022 existing home sales 5.03M units -17.8% from 2021 (6.12M units)</li></ul><p>Existing home sales are moving close to the pandemic low. With most people in a fix rate loan at much lower levels (current 30 year mortgages are above 6% more than double what they were a year ago). That has people "house locked' if they don't have to sell. The higher rates, make affordability more difficult which limits buyers. Buyers can be picky. Sellers wait even with supply low.. </p><p>/<a href="" class="terms__main-term" id="ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa" target="_blank">inflation</a></p>

This article was written by Greg Michalowski at

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