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Newsfeed: US Existing Home Sales Unexpectedly Decline In January, Record 37% YoY Collapse

Newsfeed: US Existing Home Sales Unexpectedly Decline In January, Record 37% YoY Collapse

Existing home sales had fallen for a record 11 straight months ahead of this morning’s print for January, which consensus expected to reveal a 2% MoM rebound. However, existin home sales for January actually tumbled 0.7% MoM (well below the 2.0% jump expected) and the record 12th straight monthly decline with December’s 1.5% decline actually revised even worse to -2.2% MoM…

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Newsfeed: Home Price Cuts, Rising Inventories Are Ominous Signs Of Top

Newsfeed: Home Price Cuts, Rising Inventories Are Ominous Signs Of Top

The pandemic housing boom hit a peak and should start rolling over as rising inventory forces some home sellers to slash prices. The weight of soaring mortgage rates and increasing inventory are the possible markings of a top that has already led some sellers in major US cities to cut listing prices. 

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Newsfeed: The One Housing Chart That Shows A ‘Buyer’s Market’ Has Returned

Newsfeed: The One Housing Chart That Shows A ‘Buyer’s Market’ Has Returned

The red hot pandemic-era housing market is cooling as historically tight available inventory shows signs of reversing. An affordability crisis has removed millions of new home buyers as the number of active US listings soared 18.7% in June from a year earlier, the most significant increase in Realtor.com’s data going back to 2017, according to Bloomberg.

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Newsfeed: Deflationary Tsunami On Deck: A “Tidal Wave” Of Discounts And Crashing Prices

Newsfeed: Deflationary Tsunami On Deck: A “Tidal Wave” Of Discounts And Crashing Prices

Three weeks ago, we showed readers what happens when the infamous “Bullwhip effect” reversal takes place by presenting the unprecedented surge in the “Inventory to Sales” ratio for a broad range of US retailers covering the furniture, home furnishings and appliances, building materials and garden equipment, and a category known as “other general merchandise,” which includes Walmart and Target. Since then, this ratio has only gotten even more extended, and as shown below it is now at the highest level since the bursting of the dot com bubble!

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