Biden Economy: Pending Home Sales Drop 38% – Largest Annual Drop Ever!

Biden’s economy is crashing.  The housing market is an example. 

TGP reported a week ago that the housing market was in trouble.

BIDEN ECONOMY IS A DISASTER – Home Sales Down 35% Since Last Year

Now it’s getting even worse.  (See chart above)

Zerohedge shared today:

That is the 6th straight month of pending home sales declines (and 12th of the last 13 months).

On a year-over-year basis, pending home sales collapsed 38.60%, the largest annual drop ever.

“There are approximately two months of lag time between mortgage rates and home sales,” Lawrence Yun, NAR’s chief economist, said in a statement.

“With mortgage rates falling throughout December, home-buying activity should inevitably rebound in the coming months and help economic growth.”

Pending sales fell in all four regions in the month, led by the Northeast and Midwest.

Outside of the COVID-Lockdown collapse, this is the lowest pending home sales index level ever…

Another chart at Zerohedge shows the results as follows:

Pending home sales have reached the lowest point on record.  Not even the 2020 forced COVID shutdowns were worse.

This is the Biden economy and it appears to be an intentional destruction of the United States of America. 

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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.

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Thanks for sharing!