1. Home sales increased 0.5% in November but dropped 1% year-over-year. 2. Housing supply is down 5.9% month-over-month, indicating tight conditions. 3. Median home price hit $409,200, up 1.2% from last year. 4. First-time buyers at 30%, lower than historical 40% average. 5. Investor activity rose to 18% of transactions from 13% last year.
FAQ
Why Bearish?
Stagnating home sales and declining supply suggest weakening consumer demand, historically impacting S&P 500.
How important is it?
The article's data on home sales and prices reflects broader economic health, influencing investor sentiment.
Why Short Term?
Current trends in home sales and prices could deter investor confidence quickly.