Fire! Existing Home Sales Surge To 11-Year Highs As Median Price Over 2x Wage Growth (Low Inventory Continues)

By Anthony B. Sanders

Home price growth is on fire!

US Existing Home Sales rose to 5.81 M units SAAR in November, an increase of 5.6% MoM.

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Existing home inventory has been declining since The Great Recession and keeps getting worse as median price of existing home sales keep rising.

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Median price growth for existing home sales continues to be greater than twice that of wage growth.

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The Fed song about home prices:

They don’t care for me
I don’-a care about that
They gotta new fool, ha!
I like it like that

They have only one burning desire
Let them stand next to your fire (of home prices)

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