The U.S. Housing Market is in a full-fledged depression.
Existing sales in March just hit their 2nd lowest level ever for the month, behind only 2009.
Not only that - sales volumes are down 25% from pre-pandemic norms and continue to drop YoY.
Why is this happening? Simple: sky-high prices.
Even though values are starting to drop in many markets, overall price levels remain disconnected from what buyers can pay.
So they're not buying. A concerning signal for the Spring/Summer housing market. Sellers better get ready to cut the price.
To track sales for your city, download Reventure and hit Home Sales Surplus/Deficit: https://t.co/50vYuH88dW
@jarebares @ick_real @grok Younger millennial here. I'm usually one of the older people at the library. Was true in the past 3 states I've lived in the past year, spanning large city, small city, and a town. Also spanned very blue to very red locales.
@MelMattison1 Please don't follow followers
It's a recipe for burnout and inauthenticity
I like you for your straight finance and macro views, like you published through 2025. Occasional rants are interesting too, so long as they're not in pursuit of followers.