#18 - The US housing market has entered bizarro world

What this episode covers

The US housing market has officially entered bizzaro world. The law of supply and demand is a basic principle of any free market, and right now, it's being subverted by strange happenings in the real-estate market. The supply of homes for sale is rising while demand for homes is falling. And yet housing prices continue to hit record highs. "When it comes to the housing market, the laws of supply and demand don't seem to apply any longer," the economist David Rosenberg said in a note this week. Rosenberg said existing home sales dropped to a four-month low in May to 4.1 million units, representing a year-over-year decline of 2.8%, while existing homes available for sale soared 18.5% year over year in May.

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Frequently Asked Questions

How long is this episode of Seattle Real Estate Podcast?

This episode is 11 minutes long.

When was this Seattle Real Estate Podcast episode published?

This episode was published on July 3, 2024.

What is this episode about?

The US housing market has officially entered bizzaro world. The law of supply and demand is a basic principle of any free market, and right now, it's being subverted by strange happenings in the real-estate market. The supply of homes for sale is...

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