BIDEN ECONOMY: New Home Sales Plummet – Fears of Recession on the Rise

New home sales are plummeting as concerns about a recession are on the rise. 

The housing market is seeing signs of slowing down.

Steve Cortez tweeted:

The average price of homes has skyrocketed over the past few years.  The Biden economy is a mess.

The estimates were a bit off.

The Daily Caller reports:

Home prices have rose by 18.8% last year, according to the S&P CoreLogic Case-Shiller National Home Price Index, a method of measuring average home prices in major metropolitan areas, the WSJ reported. Fewer home buyers are first time buyers, down to 27% in January of this year down from 33% the year before, the National Association of Realtors stated, according to the WSJ.

Home prices are continuing to rise, despite the Fed’s increasing interest rates. A February poll of 33 property analysts estimated U.S. housing prices rising by 10.3% this year, Reuters reported. Home prices rose to a median price of $375,000 in March of this year.

It is difficult to know what to do in this Biden economic mess.  Stocks are down.  Inflation is up.  Housing sales are down.  These are very stressful and unique times we are in and tragically, almost everyone has similar concerns.

Photo of author
Joe Hoft is a Radio Host at TNTRadio.live, Author, Former International Corporate Executive in Hong Kong for a Decade, and a Contributor at TGP since 2016. Joe is the author of five books, including his new bestseller, "The Steal: Volume II - The Impossible Occurs" which addresses the stolen 2020 Election and provides an inventory of issues that prove that the 2020 Election was uncertifiable and never should have been certified for Joe Biden.

You can email Joe Hoft here, and read more of Joe Hoft's articles here.

 

Thanks for sharing!