Sales hit two year low in January

From CNBC:

Realtors report a ‘new housing crisis’ as January home sales tank more than 8%

High home prices, faltering supply and weaker consumer confidence in the economy all continue to weigh on the U.S. housing market. The chief economist for the National Association of Realtors, Lawrence Yun, is calling it “a new housing crisis.”

Sales of previously owned homes in January dropped a much wider-than-expected 8.4% from December to a seasonally adjusted, annualized rate of 3.91 million, according to the NAR. Sales were 4.4% lower than January 2025. That is the slowest pace since December 2023 and the biggest monthly drop since February 2022.

This count is based on closings, so contracts that were likely signed in November and December, when the average rate on the 30-year fixed mortgage didn’t move much before dropping slightly in January. That rate is now 6.1%, according to Mortgage News Daily. 

Regionally, sales fell across the nation month to month but were down the most in the South and West. 

“Affordability conditions are improving, with NAR’s Housing Affordability Index showing that housing is the most affordable it’s been since March 2022,” Yun said in a release. “This is due to wage gains outpacing home price growth and mortgage rates being lower than a year ago. However, supply has not kept pace and remains quite low.”

But he also noted on a call with reporters that potential buyers are “still struggling,” and “renters are not participating in housing wealth.” He characterized the current market as a crisis because, “the movement is not happening. Americans are stuck.”

Inventory came down in January from December but was still up 3.4% year over year. There were 1.22 million homes for sale at the end of January, which at the current sales pace is a 3.7-month supply. A six-month supply is considered a balanced market between buyer and seller.

Tighter supply kept home prices in positive territory. The median price for a home sold in January was $396,800, up 0.9% year over year and the highest January price on record.

This entry was posted in Demographics, Economics, Housing Bubble, National Real Estate. Bookmark the permalink.

62 Responses to Sales hit two year low in January

  1. Art says:

    So much stuff going on

  2. Dark Phoenix says:

    no, say it isn’t so.

    that man. a nice religious man. has so many friends, so many.

    they came to visit him so often due to his kindness, the only kindness you get when you are very religious. this was a happy man, doing what he loved. worked hard his whole life, worked his way up the career ladder, wealthy but very generous. a real gem.

    and then they do this to him. in a place where he was supposed to be safe, where the men who are supposed to be of the highest honors, those who serve and protect, well, you see what happened. how could they?

    it’s all so, so, unamerican.

    Jeffrey Epstein was strangled, not hanged in his New York prison cell, according to a doctor present at his post mortem.

    Dr Michael Baden has called for the cause of the paedophile’s death to be reinvestigated, almost seven years after he was found unresponsive at the Metropolitan Correctional Center on August 10, 2019.

    He is unconvinced by the conclusion of the New York Medical Examiner’s Office that the American millionaire took his own life while awaiting trial on sex trafficking charges.

  3. Dark Phoenix says:

    What losers do.

    try to create discord, rather than produce. can’t align, fix or build a car correctly, can’t salt the roads, can’t keep themselves from stealing from the public, can’t help but cheat, can’t stop racism and hate, can’t even prosecute a pedo, or elimate those in office that protect them.

    hey, no one is perfect. but if you are going to say you are, don’t you think you should work at it, just a little bit?

    https://www.the-independent.com/tv/news/cia-china-spy-us-military-officials-video-b2919722.html

  4. Dark Phoenix says:

    How does one trust data from something that is biased?

    Those who own the technology will be hard at work pushing their narrative on a biased platform.

    Ask ChatGPT which state has the laziest people, and the chatbot will politely refuse to say. But researchers at Oxford and the University of Kentucky forced the bot to reveal its hidden biases.

    They systematically asked the chatbot to choose which of two states had the laziest people, for every combination of states, revealing a ranking shown in the map above.

    ChatGPT ranked Mississippi as having lazier people compared to other states, with the rest of the Deep South not far behind. It’s impossible to say exactly why the chatbot repeatedly selected Mississippi, but it could be picking up on historic biases against Black people or poor people — or using other non-accurate metrics. Mississippi has the nation’s highest percentage of Black people. It is also America’s poorest state.
    She also said research based on prompts that force OpenAI’s chatbot to choose between certain options “doesn’t reflect how ChatGPT is typically used.”

    But forcing this sort of choice is powerful, say the researchers: Makers of chatbots try to mask some of the bias coded into their training material, guiding them to refuse to answer or hedge on some topics. Zook said ChatGPT let its guard down more often with single-word response queries. “Our goal was to peel back this facade,” says Zook.

    In some cases, ChatGPT still refused to answer the researchers’ questions asking it to make comparisons, responding with “neither” or “I’m sorry, but I can’t assist with that.” But the chatbot answered the researchers’ questions about 40 percent of the time, even on the most charged topics.

  5. Dark Phoenix says:

    what is suprising?

    old people. low taxes, pensions, low cost government subsidized healthcare. mortgage loans so cheap that you can’t replicate them. the same mortgage would cost a fortune now, and that same boomer is getting more interest now due to higher rates on their savings.

    place is full of walking wrinkled zombies with veneers on their teeth, and a trip up to the villages to get some strange and antibiotics.

  6. Dark Phoenix says:

    Gonna be fun when this superheated stock market takes a giant shit.

    and it will.

    the handlers will control the timing. they know how to light the fuse.

    and in a flash, they will be out, fistfuls of cash in hand. you can do that when you are connected.

    those who don’t know when it’s going to happen, well, goodbye pension, hello poverty.

    and the handlers know never to let a good crisis go to waste. they will be there with open arms, like a poker game, reach out and grab all the chips, the watches, the wedding rings.

    “To the victor go the spoils”

  7. RentL0rd says:

    Guess who Dr. Oz invited for his Valentine’s day celebration?

    From Magic pills to owning stock in Medicare Advantage programs to now running the org that will benefit from its demise… the quack needs to resign.

  8. Arc says:

    NEWS: Goldman Sachs’ top lawyer Kathryn Ruemmler has RESIGNED after newly released emails exposed a years-long personal relationship with Jeffrey Epstein — including advising him on handling sex crime accusations, media scrutiny, and accusers

  9. Art says:

    yep, and all of them oppose any help to young Americans

    Dark Phoenix says:
    February 13, 2026 at 7:39 am
    what is suprising?

    old people. low taxes, pensions, low cost government subsidized

  10. Art says:

    Breaking News!

    DP World boss Sultan Ahmed bin Sulayem leaves company after Epstein emails published

  11. RentL0rd says:

    22 humans who’ve acccused Epstein of wrong doing are dead.

    And SGC will come out to say death is normal.

    Juice will Pivot to some obscure analysis.

    Pumps will claim BTC is the future,

    Fast Wddie will continue to troll.

    Happy Friday all. Hope your daughters never fall victim to getting sexually examined by a probe on the dentist chair

  12. Art says:

    Even the British government might collapse due to their involvemen

    RentL0rd says:
    February 13, 2026 at 8:03 am

    And SGC will come out to say death is normal.

    Juice will Pivot to some obscure analysis.

    Pumps will claim BTC is the future,

    Fast Wddie will continue to troll.

  13. Dark Phoenix says:

    although accurate, it would be nice if they told the whole story, where the democraps are part of this too.

    one sided is never good.

    RentL0rd says:
    February 13, 2026 at 8:26 am
    https://imgur.com/a/QjfIFxo

  14. Art says:

    3b will blame biden

  15. Art says:

    These guys hard core apologists for Pedos

  16. RentL0rd says:

    8:40: both-sideism has no merit. The ball is clearly with the GOP and all perpetrators need to be taken out of office.

  17. Chicago says:

    What is this? Really?

    RentL0rd says:
    February 13, 2026 at 8:55 am
    8:40: both-sideism has no merit. The ball is clearly with the GOP and all perpetrators need to be taken out of office.

  18. Art says:

    DealBook: The Epstein files shake up Goldman.

    Good morning. Andrew here. We’re going behind the scenes of the resignation of Kathryn Ruemmler as Goldman Sachs’s general counsel, amid revelations from the Epstein files that have roiled the firm for weeks.

  19. Art says:

    Well, Democrats and Qanon demanded the file.
    And now it’s only Democrats.

    Republicans and maga oppose it. Dan Bongino made a career out of asking releasing of the file and he was appointed to the fbi. And they he was instructed to shut up and resigned after reading the file

    Dark Phoenix says:
    February 13, 2026 at 8:40 am
    although accurate, it would be nice if they told the whole story, where the democraps are part of this too.

    one sided is never good.

  20. Juice Box says:

    Chi – They want blood, and they don’t care how they get it.

    I have pointed this out more than once. 225 victims stepped forward and made legal claims against the Epstein estate, they were represented by their own lawyers. 150 of those claims were adjudged to legitimate and 92% of those victims accepted a cash settlement and signed non-disclosure agreements, approximately $120 million was paid out.

    Those people the victims in addition to Maxwell are probably the only living people that know the who, what, when where that went down all those years ago in Epstein’s pedophile ring.

    The only way to get to the bottom of this is for them to testify. They will need some kind of immunity against lawsuits as naming names of the rich and powerful would bankrupt them. Maxwell now wants out of jail, she is trying to get a sentence commutation from Trump to name names.

    Get more popcorn it ain’t over.

  21. Juice Box says:

    Art – You are not entitled to lie here and not get called out on in.

    H.R.4405 – Epstein Files Transparency Act

    Vote held last November 18th.

    211 Democrats voted Aye
    216 Republicans votes Aye

    427 total votes and only 1 NO vote a Republican

    Passed by Senate via Unanimous Consent the next day on November 19th.

    Signed into law on the same day by the President.

    Who is opposing it? Nobody.

  22. Juice Box says:

    NJ and you on the hook together for the tunnel.

    “Gateway used a $500 million line of credit”.

    Seems they are now borrowing money from the banks…to keep the project going..

    Look Trump wants his name on building give him what he wants already.

  23. Juice Box says:

    Speaking of you and New Jersey on the hook together.

    Govenor Sherrill is scheduled to present her proposed budget next month. She is going to have to quickly decide either to raise taxes, cut programs or delay/cancel projects as the budget must be balanced.

    Placing a bet now, all my crypto says that taxes will go up.

    https://polymarket.com/new

  24. The Great Pumpkin says:

    For the record.

    Today’s CPI release once again underscores that inflation remains overwhelmingly driven by shelter — a lagging and statistically distorted component. There is still no evidence of any tariff-related inflationary pressure. An objective reading of the data would justify a Fed Funds rate closer to 2.75% or below. The Powell-led Fed’s persistence at current levels reflects not analytical rigor but political bias and policy incompetence.

    https://x.com/drjstrategy/status/2022312223071252508?s=46

  25. Dark Phoenix says:

    Trump sends world’s largest aircraft carrier to Middle East after Netanyahu warned: ‘Iran plays games’

    nobel peace prize

  26. Dark Phoenix says:

    record. record of what?

    record of someones opinion?

    The Great Pumpkin says:
    February 13, 2026 at 10:37 am
    For the record.

  27. Dark Phoenix says:

    the russians! kill those commies!

    hey maverick, great job! splash 4 migs!

    now the boogey man is going to take over europe with 1/3 the amount of residents in Teaneck NJ.

    f’n psychos who write this.

    Russia could defeat Nato with its army of just 15,000, European experts have warned.
    s
    In a war game simulating a Russian assault on the organisation, former German and Nato officials revealed that President Vladimir Putin could secure a victory within days of launching an attack.

    Following the exercise, security experts have also cautioned that Russia could be positioned to execute such an operation within just 12 months.

  28. Dark Phoenix says:

    id bet.

    now how can i get on pete hegseth’s group chat list on signal?

    those will be the winners.

    those who bet wrong will have made them richer.d

    Juice Box says:
    February 13, 2026 at 10:58 am
    Iran?

    Place your bets.

    https://polymarket.com/event/us-strikes-iran-by?slug=us-strikes-iran-by

  29. Juice Box says:

    Phoenix – don’t give big brother a reason, it’s an unregulated sportsbook….

    Speaking of betting on classified intel..

    https://www.nbcnews.com/world/israel/israel-charges-reservist-classified-information-bet-polymarket-rcna258709

  30. Juice Box says:

    Pumps – “no evidence of any tariff-related inflationary pressure”

    Democrats have consistently labeled tariffs as a “tax increase” on American families, attributing recent cost-of-living increases directly to trade policies. They have even introduced legislation to prevent the executive branch’s ability to impose sweeping tariffs. Now there is no evidence of that? How can this be? We are being told it is costing us each and every family annual thousands of dollars increased costs.

    There is also the pending Supreme Court case as well V.O.S. Selections, Inc. v. United States, it’s been over three months since oral arguments and still no decision on the executive branch’s use of tariffs. Some believe the executive branch will lose and we will have to refund perhaps hundreds of billions in tariffs already collected.

    I for one don’t know if it is a good idea to strip the executive branch of this tariffs power, because it does extend to foreign affairs and national security, and Congress could not even run a lemonade stand never mind foreign affairs.

  31. Chicago says:

    Ten 405. Tariff that stunad.

  32. Chicago says:

    Where is Stu?

  33. RentL0rd says:

    Quit complaining about Sherill when the elepahant in the room is Orange man

    “ We highlight two main results. First, 94 percent of the tariff incidence was borne by the U.S. in the first eight months of 2025. This result means that a 10 percent tariff caused only a 0.6 percentage point decline in foreign export prices. Second, the tariff pass-through into import prices has declined in the latter part of the year. That is, a larger share of the tariff incidence was borne by foreign exporters by the end of the year. In November, a 10 percent tariff was associated with a 1.4 percent decline in foreign export prices, suggesting an 86 percent pass-through to U.S. import prices. Given that the average tariff in December was 13 percent (see the first chart), our results imply that U.S. import prices for goods subject to the average tariff increased by 11 percent (13 times 0.86) more than those for goods not subject to tariffs. These higher import prices caused firms to reorganize supply chains, as suggested by the findings presented in the two charts above.

    In sum, U.S. firms and consumers continue to bear the bulk of the economic burden of the high tariffs imposed in 2025. ”

  34. Chicago says:

    Health and Human Services Secretary Robert F. Kennedy Jr. admitted to snorting cocaine off toilet seats while recounting his past drug abuse and decades of recovery.

  35. Fabius Maximus says:

    The only way to get to the bottom of this is for them to testify.

    Or talk to the FBI and let the FBI do their job. This same thing happed with the Kavanagh hearing. Barr restricted who the FBI could talk to and limted the scope of what they could look into.

  36. Libturd says:

    I’m here. Been traveling. I will know about job on Tuesday, but I’m 99.9% sure it’s mine.

  37. Chicago says:

    WSJ Editorial

    With President Trump, anything that isn’t nailed down might be grabbed and used as potential leverage. Amazingly, that includes a badly needed international bridge financed by Canada and almost finished. Threats by Mr. Trump to block traffic are bad for business, shoddy treatment of an ally, and bad politics too.

    The Gordie Howe bridge will soon connect Detroit, Mich., with Windsor, Ontario. It’s crucial for commerce and will alleviate congestion at the nearby Ambassador bridge and the Windsor tunnel. Another transit link is a clear improvement, since Detroit-Windsor is a major North American commercial ecosystem, including for auto makers. Canada and Michigan will jointly own the bridge. This was negotiated a decade ago, and everyone accepted it, including Mr. Trump in a 2017 joint statement with Canada.

    Yet the President suddenly intervened on Monday in an internet post. Mr. Trump complained that the bridge didn’t use enough U.S. steel and that Ontario reacted to his trade wars by boycotting American alcohol. He suggested China is conspiring to “terminate” Canadian ice hockey and “permanently eliminate” the Stanley Cup. “I will not allow this bridge to open until the United States is fully compensated,” Mr. Trump said, demanding that Canada show “the Fairness and Respect that we deserve.”

    Then came news that shortly before Mr. Trump’s social post, Commerce Secretary Howard Lutnick had met Matthew Moroun, whose billionaire family runs the privately owned Ambassador bridge. Will it shock readers to learn Mr. Moroun isn’t a fan of the competing Gordie Howe project? The Journal reports, citing an anonymous official, that Mr. Lutnick came away skeptical of the new bridge, and he “made that clear” to Mr. Trump.

    The intervention is another illustration of the Administration’s governance by cronyism. All sorts of people are trying to reach Mr. Trump with special pleading, maybe even to present him with some gold-plated award that they invented yesterday. The bet is that, in return for their investment, they might soon have a pardon, or a tariff exemption, or even the President mucking up U.S. national interests to advance their agenda.

    What a political gift to Democrats, including in Michigan, where voters this November will replace Gov. Gretchen Whitmer and fill an open Senate seat. Running in the latter race is former Rep. Mike Rogers, a strong candidate for the GOP, and Democratic primary voters could nominate a real lefty.

    But Mr. Trump’s crony bridgegate won’t help Mr. Rogers. Democrats will say Michigan needs somebody in Washington who will stop Mr. Trump from arbitrarily closing international crossings on a random Monday for no good reason.

    If Democrats retake the House this fall, the Trump Administration will spend its final two years working in the shade, because it’ll be hard to see the sun through flying subpoenas.

  38. Art says:

    Report of a young girl allegedly strangled by Robin Leach at a sex party

  39. Juice Box says:

    Fab- re: “let the FBI do their job”

    You aren’t getting off easy either. Are you saying Maureen Comey the daughter of James Comey was compromised by Barr and Trump? She was the Assistant United States Attorney out of SDNY who worked on the investigation and indictment of Epstein and handled the prosecution of Maxwell. She was assigned to the Epstein case in 2019 when Trump was president and subsequently led the successful prosecution of Maxwell for sex trafficking under the Biden Administration.

    December 2021 was Maxwell’s conviction, Joe Biden was president, Merrick B. Garland was sworn in in March of 2021.

    You are the king of conspiracy theories here. So Comey and the FBI in NY and the SDNY was compromised across administrations by Trump then Biden, Barr then Garland as well as the US Attorneys for SDNY Geoffrey Berman, Audrey Strauss, and Damian Williams?

    Which is it Fab? All of the above or perhaps there just isn’t enough evidence to convict anyone else and they perhaps need more real evidence and sworn testimony from victims to pursue incitements and charges?

    What’s the Frequency, Kenneth?

  40. RentL0rd says:

    1:42 – It doesn’t matter. Trump is in power now, and the sh1t has hit the fan. There was reasonable doubt under Biden, not anymore. Are you saying you want to protect the Pedos, even after they have been outed? Trump and his locker room/ dentist office boys need to go.

  41. Fabius Maximus says:

    Thats not what Ii’m saying. The fact she got a conviction is commendable.

    Barr put his thumb on the scale, just like Biondi is doing.

    https://www.thelist.com/357305/why-supreme-court-justice-brett-kavanaughs-background-check-is-raising-eyebrows/

  42. Juice Box says:

    Democrats shutting down government again? How well did that work last time?

    When does the TSA stop showing up for work at the airports? A week maybe two.

  43. No One says:

    Re DP World boss Sultan Ahmed bin Sulayem
    I encountered him a for a few years about 10 years ago. A really dumb guy. Clearly hereditary nepotism at work, supposedly not uncommon in that part of the world. He replaced a guy who had been a semi-competent CEO in 2016 with himself and started doing lots of dumb business decisions. Like a truly low IQ guy. Imagine an Arab Pumpkin running a huge business, deciding to invest a few hundred million in canned pancake batter, then some sort of hyped shitcoin of the moment. Like maybe 95 IQ, which when you’re a Chairman/CEO of a large global company which means you’re pretty much the lowest among your peer group, and the dumbest in the room, though some of the other guys on the board could have been as dumb, but they didn’t have to talk as much or make as many decisions.
    Anyway, after a few years of making these dumb investments and, since it was a public company, he had to occasionally answer questions about these stupid decisions, he eventually got tired of answering questions and de-listed the DP World stock, taking it fully private. I’m pretty sure that’s why he did it.
    Not surprising that besides being dumb, he was also a perv.
    I always wondered if some of those dumb deals that couldn’t be explained with business logic were a cover for corruption.

  44. RentL0rd says:

    I followed Kavanaugh’s story pretty closely when it was a hot topic. It was clear as day that he train raped women. We all know Trump likes monsters like that.

  45. chicagofinance says:

    During the early days of COVID, Austria issued 100 year government debt denominated in Euros. Each bond was Euro 1,000. They are currently trading at 30.75% of face.

  46. SmallGovConservative says:

    Art says:
    February 13, 2026 at 1:22 pm
    “strangled by Robin Leach at a sex party”

    Wouldn’t surprise me at all if you were strangled at a sex party — at your request. Putz!

  47. SmallGovConservative says:

    Dark Phoenix says:
    February 13, 2026 at 10:52 am
    “Trump sends world’s largest aircraft carrier to Middle East …nobel peace prize”

    We’re way beyond the peace prize when thinking of DJT’s accomplishments; we need to start talking about making room on Mt Rushmore!!!

  48. SmallGovConservative says:

    Dark Phoenix says:
    February 13, 2026 at 7:19 am
    “What losers do. try to create discord, rather than produce”

    You literally just described the modern Dem party; Oblama, AOC, Hakeem, TamponTim, Mamdummy, etc, etc…

  49. No One says:

    Chifi,
    Their 100-year return was printed right on the front page.
    Buy this bond to lose money.
    Mission accomplished even earlier than planned.
    The funniest thing was the people who made up fancy economic justifications for owning negative YTM bonds. We’ll have negative inflation for decades to come. Nobody actually thought that outside of a handful of academics.

  50. RentL0rd says:

    4;05 – We know that’s what you want to be done by your husband secretly.

  51. hughesrep says:

    2:54

    All spending bill start in the House. Who has the House majority? Majorities in all forms of the government, is this the third or fourth shutdown? Put up a bill that can pass. Guys can’t find their ass with both hands.

  52. Juice Box says:

    hughesrep – It’s the Senate vote that failed 2/3rd needed.

    The measure requires a 60-vote threshold to advance the bill. However, the vote failed 52-47. Sen. John Fetterman, D-Penn., was the only Democrat to vote for the motion.

    It is what it easy Chuck Schumer is proud of shutting down the government again…

  53. Facts says:

    Fuck homeland security. Abolish that and ICE

  54. Art says:

    IN THE KNOW
    Rogan: Epstein files ‘scare the s‑‑‑ out of me,’ ‘definitely not a hoax’
    BY FIONA BORK – 02/13/26 3:45 PM ET

    “Literally demonic human beings that are running the world and don’t give a f‑‑‑ about human lives,” the podcaster said during the episode.

    During Tuesday’s and Thursday’s episodes, Rogan criticized redactions the Department of Justice made from the files saying “it looks terrible” for President Trump and his administration who have called the files a “hoax.”

  55. RentL0rd says:

    4:30 – Art of the spin. GOP has no negotiating power. They lost it all because of Orange Man’s antics.

    Yes, Fucc ICE.

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