% Increase over the last 5 years...
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The increase in unsold homes takes place as housing affordability is near all-time low (mortgage rates AND prices are too high). A few remarks though: -There is a lack of inventory in some states while in other states inventory is building up due to population loss. - The chart is NOT normalized by population. The US population is about twice that compared to 1960. If you normalize the number from today compared to 1960, they might actually be the same. Source: Don Johnson @DonMiami3
Core PCE inflation RISES, to 2.8%, in-line with expectations of 2.8%. The Fed's preferred measure of inflation hit its highest reading since April. Core CPI, PPI, and PCE are all back on the rise. Source: Charlie Bilello
That's the most pessimistic homebuyers have ever been about the housing market. Helps explain why homebuyer demand is so low. Source: Nick Gerli, re:venture