We've got two views on the macro and a look inside your ears. You're listening to

Motley Full Money. I'm Ricky. I'm Ricky Mulvey. I'm Ricky Mulvey, joined today by David Meyer.

David, thanks for being here. Oh. I'm Ricky Mulvey. Joined today by David Meyer.

David, thanks for being here.

Oh, it's awesome.

Can't wait to, uh, can't wait to do this.

Let's talk, uh, let's talk some big macro.

We got some fresh existing home sales data this morning. This is an interesting

market because no one really wants to sell their home right now. The market is

both slow and expensive. So less than 4 million homes sold annualized from the month. That's down 5% from

last month and down for more than 6 million annualized back in 2021. This is a weird economic situation where get out your graph but the

supply is rising and so are home prices.

Yeah, what the heck's up with that? What is? You're the analysts. Yeah, break it down. What's going on?

So here's here's what's going on and I think the NAR chief economist Lawrence Young made some interesting commentary that we can use to explain.

Basically he said it shifts, the market is starting to shift from a seller's market to a buyer's

market.

And the other thing along what he said

is the supply demand curve is actually coming

more into balance, right?

So yes, supply rising, home price rising doesn't necessarily, right,

makes sense, but it can, you know, in the short term you can get strange things like that.

But, so what's happening now is there are a few more homes

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