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Housing Slump

Posted by Samuel A. Kiburz on Sep 6, 2022 2:32:09 PM

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Chart shows the 50% decrease of home sales from August 2020 to August 2022

Today’s chart comes from data provided by the Department of Housing and Development (HUD) which shows that the rate of new US home sales per month has fallen 50% from 1,000,000 to 500,00 since the peak in August 2020.

This decline is fueled by higher residential loan rates and the adage, “the cure for high prices, is high prices,” as home prices rise.

Topics: Chart of the Day, Managing your Wealth