Wednesday, June 22, 2016

U.S. Existing Home Sales Rise to More Than Nine-Year High

The National Association of Realtors announced today that existing home sales increased 1.8 percent to an annual rate of 5.53 million units last month, the highest level since February 2007.

This is nothing at all what a recession looks like.



  1. Robert new home sales are still at multi-decade lows! Hardly what a "recovery' Looks like

    1. Yes, a long-term chart shows how anemic the "recovery" looks.

      RW, any comment on the marked decline in the Cass Truckload Linehaul Index?

      Sliding into recession with our eyes wide shut....

    2. This is because government regulation and taxation has made inexpensive new homes unprofitable to build. So if someone cannot afford the new home prices (due to the size, construction, and location) he has to buy an existing home.

  2. This IS what a recession looks like when propped up with 0 interest rates