{"id":1478873,"date":"2024-07-23T14:11:16","date_gmt":"2024-07-23T18:11:16","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1478873"},"modified":"2024-07-23T14:11:16","modified_gmt":"2024-07-23T18:11:16","slug":"us-existing-home-sales-puked-again-in-july","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/us-existing-home-sales-puked-again-in-july\/1478873\/","title":{"rendered":"US Existing Home Sales Puked (Again) In July&#8230;"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">US Existing Home Sales Puked (Again) In July&#8230;<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p><strong>US existing home sales slumped for the fourth straight month in June,<\/strong> plunging a worse than expected 5.4% MoM (the worst MoM drop since Nov 2022) and dragging sales down 5.4% YoY&#8230;<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/bfm6289.jpg?itok=tCyk-J_w\"><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p>Notably, existing home sales have not risen on a YoY basis since July 2021, with the <strong>SAAR total back below 4mm, near COVID lockdown lows&#8230;<\/strong><\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/bfm191E.jpg?itok=c6-DrlMI\"><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p>The only segment of the market that saw sales rise the $1 million-plus cohort &#8211; which saw sales rise 3.6% YoY&#8230;<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/bfm4E20_0.jpg?itok=M4hP_TIB\"><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p>Meanwhile,<strong> the median home price rose 4.1% from last year to $426,900&#8230;<\/strong><\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/bfmF1E4_0.jpg?itok=CJODBPdB\"><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p><strong>That&#8217;s a new record high median price for existing homes in the US&#8230; <\/strong>and once again above the median price for a new home&#8230;<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/image_54.png?itok=s8OYva3k\"><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p>&#8230;so much for the hopes of a rate cut?<\/p>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" class=\"username\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Tue, 07\/23\/2024 &#8211; 10:11<\/span><\/p>\n<p>\u200b<a href=\"https:\/\/www.zerohedge.com\/markets\/us-existing-home-sales-puked-again-july\" target=\"_blank\" class=\"\" rel=\"noopener\">https:\/\/www.zerohedge.com\/markets\/us-existing-home-sales-puked-again-july<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Existing Home Sales Puked (Again) In July&#8230; US existing home sales slumped for the fourth straight month in June, plunging a worse than expected&#8230;<\/p>\n","protected":false},"author":0,"featured_media":1478874,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1478873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1478873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1478873"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1478873\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1478874"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1478873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1478873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1478873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}