Spot The Massive Depression, And The Tiny Recovery, In This Existing Home Sales Chart

When it comes to home purchases, there are the rich, with $1MM+ existing home  transactions up a recoveryish 13% in the West, and then there are the poor, where in the cheapest bucket have crashed a depression-like -45% (no, not due to the weather).


Why is this an issue? Because homes priced $500K and lower represent 90% of all existing home sales. On the recovery-ish end, homes priced $1 million and above are just 2.1%.


Or, to summarize, Rich 1 - Poor 0... Just like the Fed wanted it.

Source: NAR


No comments yet! Be the first to add yours.