The National Association of REALTORS® reports that existing‑home sales in December rose 5.1% from November to an annual rate of 4.35 million units and were up 1.4% year-over-year. Inventory remains tight at roughly 1.18 million homes, about 3.3 months’ supply, supporting home prices. The median existing‑home price was $405,400 in December, modestly above last year, reflecting steady demand and a generally positive housing market.
And the grudge match between Powell & Trump is heating up with the President’s people calling in the DOJ and D.C.’s AG to criminally investigate Powell. Meanwhile Powell has sworn statements from 16 appointed economic advisors including the three living former FOMC Presidents: Greenspan, Bernanke, and Yellen; who all assert that the Executive Branch is merely attempting to take control of the Fed.
