US existing home sales for December 4.02M vs 3.96M estimate

• Existing home sales 4.02M va 3.96M estimate
• Prior month 4.08M vs 4.09M previously reported.
• Sales are down -1.5% MoM
• 11th straight month decline
• Supply at 2.9 months with a more balanced market being 4.6 months
• Median sale price $366,900 that is up 2.3% from December 2021
• 2022 existing home sales 5.03M units -17.8% from 2021 (6.12M units)

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..

/inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term