Why So Serious About Housing? April Sales Take a Nosedive!

A Little Anarchy in the Housing Market

Greetings Gotham! Or should I say good riddance to the spring housing market? It seems those pesky heroes – you know the ones who believe in stability and order – have failed spectacularly. April sales of previously owned homes have plummeted 0.5% since March a pathetic 4 million units. And you know what that means? Chaos! Pure beautiful chaos! As if that's not funny enough this is the slowest April pace since 2009. Talk about a joke!

The Punchline? Nobody's Buying!

Home sales are limping along at 75% of their pre pandemic glory. Can you believe it? Even with seven million new jobs nobody's biting! 'Pent up housing demand,' they whine. More like pent up disappointment! People are starting to realize that owning a home is about as sane as trusting a clown with a bazooka. And I should know!

Inventory: It's All About Sending a Message

Oh but here's where the fun really begins. Inventory has jumped 9% month to month and is almost 21% higher than last year! More homes less buyers. It's like sending a message a beautifully twisted message that screams 'The system is rigged!' and oh boy do I love rigged systems! A 4.4 month supply? The highest in five years? This is getting better and better.

Why So Expensive?

Now prices are still up but only a measly 1.8% year over year. The median price? A whopping $414,000! 'It's the highest April price on record,' they say like it's something to celebrate. But the appreciation is slowing. Hahahaha! Even the rich are starting to feel the pinch. The South and West regions even saw prices fall! It's like watching a house of cards slowly collapsing and I've got front row seats.

Negotiation Time? Let's Put a Smile on That Face!

The poor consumers are in a 'better situation to negotiate.' Oh please! Like they have any real power. But hey at least they can pretend. Homes are sitting on the market for 29 days. That's plenty of time for buyers to come to terms with the fact that they're trapped in a game they can't win. Let's put a smile on that face!

The Rich Get Richer The Poor Get...Nothing!

Of course the high end of the market is still going strong. Sales of homes over $1 million are up nearly 6%. But homes between $100,000 and $250,000? Down just over 4%. The rich get richer and the rest of you... well you get to watch. And maybe just maybe you'll realize that the only way to truly win is to burn it all down. Because after all isn't chaos a ladder?