Condo Sales Drop to Lowest in the Data, Supply Highest Since Housing Bust. Single-Family Home Sales Below 1995, Supply Highest Since 2016

Condo Sales Drop to Lowest in the Data, Supply Highest since Housing Bust. Single-Family Home Sales Below 1995, Supply Highest since 2016

Demand destruction on an epic scale, after the price explosion. And inventories are piling up.

Condo Sales Drop to Lowest in the Data, Supply Highest Since Housing Bust. Single-Family Home Sales Below 1995, Supply Highest Since 2016.

by Wolf Richter Wolf Street Demand destruction on an epic scale, after the price explosion. And inventories are piling up. It boils down to this: In terms of condos, sales that closed in May fell further and hit the lowest point in the data, along with Lockdown May 2020, seasonally adjusted; supply spiked to the highest level since the Housing Bust. In terms of single-family homes, sales inched up, but barely, and remained at historic lows, and …