Home Sales Fall Again

The housing market continues to slow

Here’s a chart of home sales over the last year and a half:

As you can see, the line is going down! Less homes are being sold.

On a month-over-month basis, this is the sixth straight month of declines:

And here is the cumulative decline since the peak number of sales in January:

Ultimately, the impact of rising rates and elevated home values still may not have even fully hit the market yet. I’d expect to see further declines to come.