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Friday, March 29, 2024

Spot The Massive Depression, And The Tiny Recovery, In This Existing Home Sales Chart

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

When it comes to home purchases, there are the rich, with $1MM+ existing home  transactions up a recoveryish 13% in the West, and then there are the poor, where in the cheapest bucket have crashed a depression-like -45% (no, not due to the weather).

Why is this an issue? Because homes priced $500K and lower represent 90% of all existing home sales. On the recovery-ish end, homes priced $1 million and above are just 2.1%.



Or, to summarize, Rich 1 – Poor 0… Just like the Fed wanted it.

Source: NAR

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