Existing home sales rise from multi-decade rock-bottom, still -34% from 2021, -22% from 2019. Supply highest for November since 2018, days on market highest since 2019.
Fed cut by 75 basis points since September while 10-year Treasury yield rose by 75 basis points to 4.40%, as Bond Market frets about Inflation & Supply.
19 Metros below 2022 peaks: Austin -22%, San Francisco -10%, Phoenix -9%, San Antonio -8%, Denver -7%, Salt Lake City -6%, Sacramento -6%, Portland -6%, Dallas -6%, Seattle -5%, Honolulu -5%…
19 are below their 2022 peaks: Austin -20%, San Francisco -10%, Phoenix -8%, San Antonio -7%, Denver -7%, Sacramento -6%, Salt Lake City -6%, Portland -5%, Dallas -5%, Seattle -5%, Honolulu -4%…
