HAPLESS HOUSING
06/24/2025 |
May existing home sales came in at a ho hum annualized rate of 4.03 million, up trivially from 3.95 million in 4/25 and down triflingly from 4.06 million in 5/24. Sales are flat as a hockey rink but inventory is a different story! It’s 4.6 months, up from 4.4 months in April and 3.5 in February. Thus, price appreciation is rapidly slowing from 5.2%/year one year ago to 1.3%/year now.