Bidenomics is the gift that keeps on giving … if you are one of the top 1% of income. But if you are in the middle class, Bidenomics is like a horror movie.
Pending home sales fell 7.1% in August 2023, with all four regions of the U.S. posting month-over-month and year-over-year declines in transactions. Rising mortgage rates have reduced the pool of home buyers, who are having to readjust their expectations about the location and type of home they can afford.
Transactions were down 11% from last year.
Pending home sales came off of the lowest print in recent history, but just barely.
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