ESA on EHS | The US housing market was down in January, as measured by existing home sales, but inventory is finally replenishing.

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If rates stabilize or drop and housing inventory continues to reload after a sluggish 2023, we could see housing rebound in parts of the US.

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US Existing Home Sales (EHS) were off 7.3% year-over-year in November, while posting a slight lift over the prior month.

ESA on EHS | Existing home sales while up 14.5% month-over-month, saw another steep year-over-year decline in February, at -22.6%. Inventory remains low.

ESA on EHS: Existing-home sales fell 14.2% year-over-year as prices continue to surge upward. More inventory is becoming available, possibly due to a high cancelation rate (15%) in June.

July 2022 marks the HMI’s (Housing Market Index) largest drop in its history, outside of the post-pandemic shock of April 2020.

ESA on EHS | Home prices up 15%, sharp interest rate hikes, huge inflation and scant inventory all make for a stressed housing market.

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ESA on EHS | The US housing market posted some ugly indicators in February, with near-record low inventory and huge price hikes (+15%).

ESA on EHS | US existing home sales decreased year-over-year in September. Prices continued upward. A staggering 86% of homes sold were on the market less than 1 month.

The US housing market had some outsized metrics in 2020 and is showing signs of cooling . This will have delayed impacts on other industries.