Here are the highlights:
Month to month existing home sales fell 4.8%. Still comfortably higher.
Year over year inventory full 1.7%. No meaningful change.
Medium home price is $288,700 up 4.7% from a year ago. Softest price appreciation in twelve months.
Yun welcomes moderation in prices from upcoming monetary policies.
Builders surprisingly still not in the game. Labor still an issue.
Stress analysis suggests mortgage rates have to go to 6% to have a meaningful pullback to housing growth.