Eurodollar University

BREAKING: Home Sales PLUNGING to 2010 Levels

Feb 13, 2026
A deep dive into the sudden 8.4% crash in January home resales and why weather and seasonality do not fully explain it. A look at downward benchmark revisions that turn recent payroll gains into large employment shortfalls. Discussion of how a growing labor-market gap dampens buyer demand and links to rising mortgage delinquencies in low-income regions.
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INSIGHT

Housing Drop Not Explained By Weather

  • Existing home sales plunged 8.4% in January despite lower mortgage rates and seasonal factors. Jeff Snider argues this shows deeper demand weakness, not just weather or timing quirks.
INSIGHT

Revisions Reveal Weak Housing Upswing

  • December's sales were revised down and the apparent upswing was minimal, undermining the recovery narrative. Snider highlights revisions that reveal housing activity never meaningfully recovered last year.
INSIGHT

Benchmark Revisions Expose Employment Gap

  • Benchmark revisions show large downward changes to payrolls: 2024 fell from +2.01M to +1.46M and 2025 from +584k to +181k. Snider frames this as an expanding employment gap that left the labor market millions short of trend.
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