Alarming graph of housing demand implosion to lowest point in 30 years is at 18 seconds of video.
-2.7%
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Existing-home sales decreased by 2.7% in June. Month-over-month sales declined in the Northeast, Midwest, and South, and rose modestly in the West. Year-over-year, sales fell in the Northeast and West, while rising in the Midwest and South.
According to NAR Chief Economist Lawrence Yun, “Multiple years of undersupply are driving the record high home price. Home construction continues to lag population growth. This is holding back first-time home buyers from entering the market. More supply is needed to increase the share of first-time homebuyers in the coming years even though some markets appear to have a temporary oversupply at the moment.”
https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales
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