The US housing market continues to battle as The Federal Reserve continues to combat inflation. Right this moment’s pending house gross sales are one other nail in housing casket.
Pending house gross sales declined -34.4% year-over-year (YoY) as M2 Cash development went destructive (-1.3% YoY).
A minimum of UMich shopping for circumstances for housing elevated … to 44, properly beneath 100.
There isn’t any home-building bubble.
No method, no how, not an opportunity. pic.twitter.com/l4hU9QxwRB
— Michael Taylor (@Mike_Taylor1972) January 26, 2023