X22 Report

Kash Patel served as the former Chief of Staff to Acting Secretary of Defense Christopher Miller and is responsible for leading the Secretary’s mission at the Department, including his executive staff and providing counsel to the Secretary on all matters concerning the Department’s operations. Kash oversaw the execution of several of President Donald J. Trump’s top priorities. Kash begin the conversation on how Kamala will only do one debate and at this point she is the nominee but things could change. Trump decided not to receive the clown intelligence, he is receiving intelligence from other sources, Kash, John Ratcliffe, Ric Grenell all have their intelligence clearance. Most likely [KH] will become the acting Resident, Biden will retire. The [DS] will use a cyber attack sometime during the election, they will try not to certify the election. The cyber attack will blackout certain parts of the country. The [DS] will try to make Trump ineligible to hold office, this will fail just like everything else they have tried.

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Click On Picture To See Larger PictureThe unemployment rate is moving up in Canada and the US. The job numbers are so manipulated that they are worse than initially believed. Biden says the quiet part out loud, IRA is the GNS.Trump proposes a sovereign wealth fund. The [DS] is now warning that Russia might sabotage the underwater communication cables. Translation: [DS] will cut them and blame it on Russia. The [DS] is now changing tactics, they will go after Trump after he wins the elections. Trump sentencing date has been moved to after the election. Trump says he can see the game board clearly. He know all the players, the good ones and the bad ones. This time the [DS] does not have control.

 

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Economy

https://twitter.com/GRDecter/status/1832039735734272076

https://twitter.com/KobeissiLetter/status/1832036163021930590

  jobs report was the WEAKEST jobs report since the pandemic in December 2020. Just wait until next month when we see the revisions to today's numbers. What is happening here?

https://twitter.com/greg_price11/status/1832048971335782773

https://twitter.com/KobeissiLetter/status/1832078916204589465

 

https://twitter.com/AndyPuzder/status/1832084867519021200

 

“We Should Have Named it What It Was” – WHOA! Biden Goes Off-Script in Wisconsin, Admits the ‘Inflation Reduction Act’ was Actually the Green New Deal (VIDEO)

Things went sideways after Joe Biden went off-script and admitted the so-called ‘Inflation Reduction Act’ was actually the Green New Deal.

“The most significant climate change law ever….We should have named it what it was,” Biden said.

https://twitter.com/TrumpWarRoom/status/1831786155559547172?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1831786155559547172%7Ctwgr%5E8bf83fcaaa4a9a862df5adf8b9d3213f8010430e%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2024%2F09%2Fwe-should-have-named-it-what-it-was%2F

Source: thegatewaypundit.com

https://twitter.com/charliekirk11/status/1831918437939212547

https://twitter.com/KobeissiLetter/status/1832065460965167462

 

Trump floats US sovereign wealth fund as part of economic pitch

 Trump in a speech to business leaders  called for the creation of a U.S. sovereign wealth fund, a government-owned investment fund, to finance “great national endeavors.”

While offering few details, Trump said the fund would would yield a “gigantic profit” that could help “pay down the national debt” — an unmet goal from his 2016 campaign.

Sovereign wealth funds are prevalent throughout the industrialized and developing world, with the largest ones residing in oil-rich states like Norway, Saudi Arabia and other Persian Gulf nations as well as China, Singapore and Hong Kong.

“Why don’t we have a wealth fund? Other countries have wealth funds. We have nothing,” Trump said during his speech to The Economic Club of New York, adding that the U.S. fund would be financed by tariffs “and other intelligent things.”

According to the Sovereign Wealth Fund Institute, roughly 100 funds currently manage nearly $13 trillion in assets. That includes a handful of U.S. states including Alaska, Texas, New Mexico and others which have set up their own types of government-run funds initially financed by oil, gas and mineral resources. Trump now wants to do the same at the federal level.

Source:  rollcall.com 

A sovereign wealth fund is a state-owned investment fund comprised of money generated by the government, often derived from a country's surplus reserves.

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Click On Picture To See Larger PictureThe automobile manufactures are now giving up on all EV production, they realize that this will bankrupt them. No demand equals no sales. Unemployment numbers are on the rise, job openings are shrinking, we have been in a recession and it's getting worse. Trump says if [KH] gets elected we will be a depression. Trump is going reverse everything the [CB]/[DS] has done. The [DS] is now shutting down platforms, arresting those who own platforms, going after influencers that are on the platforms they control. Prepare for a communication blackout. The DOJ/FBI is now prepping the election narrative, when we cheat and decide not certify the election those who speak up will be thrown in prison. Trump warns the [DS], they are trying to throw him prison, he says that two can play the game.

 

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Economy

Volvo gives up plan to sell only EVs by 2030 

Car company Volvo has abandoned its target to produce only fully electric cars by 2030, saying it now expects to be selling some hybrid vehicles by that date.

The carmaker blamed changing market conditions for its decision to give up a target it had announced only three years ago.

It comes as the industry faces a slowdown in demand in some major markets for electric vehicles (EVs) and uncertainty due to the imposition of trade tariffs on EVs made in China.

Volvo, which has traditionally flaunted its environmental credentials, joins other major carmakers General Motors and Ford in rowing back on EV ambitions.

Volvo now expects at least 90% of its output to be made up of both electric cars and plug-in hybrids by 2030.

Source: bbc.com

ADP Employment Report Weakest Since Jan 2021

Ahead of tomorrow's "most important data point in history" payrolls print, this morning we get the ADP employment report and jobless claims (and ISM Services) as an aperitif to tease the day traders and test the reaction functions of the algos.

Against expectations of adding 145k jobs (a slight improvement over July's 122k), ADP's Employment report printed a dismal +99k for August - the weakest print since January 2021 (and July's +122k was revised down to +111k)...

Source: Bloomberg

That is also the fifth straight monthly decline in the ADP employment report's jobs additions.

 

Source: zerohedge.com

https://twitter.com/KobeissiLetter/status/1831668103018635284

https://twitter.com/WallStreetSilv/status/1831679612599898516

 

https://twitter.com/KobeissiLetter/status/1831419177317630026

  GDI has been a leading indicator of final GDP data revisions and the unemployment rate, primarily near the end of economic cycles. Currently, GDI suggests that the real GDP could be overstated by a whopping ~$600 billion or 3%. However, by the time revisions are made, attention from the current GDP numbers has shifted. Downward data revisions are the new normal

https://twitter.com/KobeissiLetter/status/1831395064125210972

 has pulled back due to a record high levels of debt and elevated prices. Meanwhile, visits to top Airlines, Cruise Lines, and Accommodation brands' websites is down ~5% YoY. Travel demand is slowing.

 

Trump Predicts ‘1929-Style Depression’ if Kamala Wins 

Wednesday, during a town hall event that aired on FNC’s “Hannity,” former President Donald Trump, the Republican nominee for president, warned viewers about a repeat of the 1929 Great Depression if Vice President Kamala Harris, his Democrat opponent, wins.

Partial transcript as follows:

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Click On Picture To See Larger PictureThe [WEF] green new scam is not green at all. The windmill blades cannot be recycled, the old batteries are not going to be recycled. Canada cut rates. The economy is in a recession. FBI warns about NK stealing Bitcoin. Lummis prepares for the Bitcoin reserve. The [DS] is now losing it's grip, the poll numbers that they faked are falling apart, her poll numbers are imploding. Now pollsters are calling them out saying they are oversampled. The [DS] begins the narrative that Russia will interfere in the election, right on schedule. It seems we are coming full circle going back to 2016. Russia, Russia, Russia haox is now back in the spotlight. Buckle up its going to get bumpy.

 

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Economy

https://twitter.com/JimHansonDC/status/1831302199026081794

Bank of Canada Cuts Rates For Third Consecutive Month, Says "Expect Further Cuts"

 Bank of Canada cuts its overnight lending rate by 25bps for the 3rd consecutive time, as all economists expected, and citing continued easing in inflationary pressures.

Source: zerohedge.com

First Dollar General, Now Dollar Tree Shares Plunge As Both Discount Retailers Warn Of Core Customer Under Pressure  

Shares of Dollar Tree plunged nearly 12% in premarket trading in New York after the discount retailer, which operates thousands of stores nationwide, posted fiscal second-quarter earnings that fell short of Wall Street expectations. The company also slashed its full-year outlook, pointing to mounting financial pressures on middle-income and higher-income customers. This comes less than a week after major rival Dollar General reported a "financially constrained core customer" that sent shares crashing the most on record.

 

What's critical to note for the political strategist: Dollar Tree & Family Dollar and Dollar General stores are mostly concentrated in the eastern half of the US. Mangment's gloom about its core customer base should serve as a proxy for consumer sentiment for mid/low-tier consumers. In other words, there is a lot of gloom and doom among working-poor Americans in critical swing states.

Last week, Dollar General shares crashed the most on record after management warned that core customers "feel financially constrained."

 

Source: zerohedge.com

https://twitter.com/KobeissiLetter/status/1831339210852520360

  38%. The most notable drop was seen in construction openings which fell to 248,000 in July, their lowest since October 2020. Meanwhile, the ratio of job vacancies to unemployed workers fell to 1.07 in July, in line with 2018 levels. The US labor market is now weaker than it was before the pandemic.

https://twitter.com/KobeissiLetter/status/1831321843686371836

  transportation and housing have risen by 27% and 24%, respectively. All as the US Dollar has lost nearly 25% of its purchasing power in just 4 years and wage growth has slowed. Basic necessities have never been less affordable.

Comrade Kamala’s Tie-Breaking IRA Vote Broke Medicare; She’s Covering it Up with a Taxpayer-Funded Bailout

 

 Harris’s vote broke the 50-50 tie on the “Inflation Reduction Act” (IRA), a key part of the Biden-Harris administration’s “investing in America agenda.” So, despite her not so transparent attempt recently to run away from Biden, she owns the IRA.

Americans know that everything has become more expensive under Biden and Harris – gas, groceries, housing. But perhaps the worst impact the IRA had was breaking health care for America’s seniors,

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Click On Picture To See Larger PictureEU countries are no importing more gas from Russia than the US. Inflation is coming down, because it's manipulated and they need the Fed to cut the rates. Gov hiring caused inflation. [KH] plans will increase inflation, and destroy the economy. Musk sends message, we need to restructure the Fed and use tariffs to fund the Gov. The [DS] is now pushing their last attempt to take back control. They are now preparing chaos, riots and cyber attacks, while the economy implodes and they bring us to war. They need to do this to stop Trump and the people from taking back the country. If the lights go out, remember the patriots are in control. Kash Patel is letting everyone know that this is a possibility.

 

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Economy

https://twitter.com/KobeissiLetter/status/1830739755677417484

 , recording a similar drop as during the 2008 Financial Crisis. As a result, expectations are now at levels seen in the 2015-2019 period. Furthermore, 1-year inflation expectations in the University of Michigan consumer survey fell to 2.8%, the lowest since December 2020. The first rate cut since 2020 is coming this month.

https://twitter.com/KobeissiLetter/status/1830946338869067987

 means that most of the employment growth over the last few months has come from government jobs. Over the last 1.5 years alone, the government created nearly 1 million jobs, the most since the 1990s. Meanwhile, the private sector hiring rate fell to 3.7%, the lowest level since April 2020. Truly concerning.

Why Kamala Harris Will Not Bring Prices Down... Her Plan Needs Inflation

The reality is that the Kamala Harris plan, like all interventionist governments, creates and strives for inflation. Inflation is a hidden tax. Governments love it and perpetuate it by printing money through deficit spending and imposing regulations that harm trade, competition, and technological creative destruction. Big government is big inflation.

Inflation is the way in which the government tricks citizens into believing that administrations can provide for anything. It disguises the accumulated debt, quietly transfers wealth from the private sector to the government and condemns citizens to being dependent hostages of government subsidies. It is the only way in which they can continue to spend a constantly depreciated currency and present themselves as the solution. Furthermore, it is the perfect excuse to blame businesses and anyone else who sells in the currency that the government creates.

Kamala Harris will do nothing to cut inflation because she wants inflation to disguise the monster deficit and debt accumulation. 

 

Governments do not reduce prices. Governments create and perpetuate inflation by printing currency that loses value every year.

Socialism redistributes middle-class wealth to bureaucrats, not rich to poor.

Massive government spending, constantly increasing taxes, and printing money. A plan to reduce the economy to serfdom.

Source: zerohedge.com

https://twitter.com/EndWokeness/status/1830652398274281737

https://twitter.com/JDVance/status/1830789081594257585

 

https://twitter.com/WallStreetSilv/status/1830878403584553429

https://twitter.com/BitcoinMagazine/status/1830931585304023166

https://twitter.com/elonmusk/status/1830835287171146105

Political/Rights

https://twitter.com/MJTruthUltra/status/1830814009420918825

• What the deep state uses most to cover up their corruption is an   illegal application of the classification system • Take for example what FBI...

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Germany's economy is falling apart, they pushed the green new scam, auto manufactures went along with it, now they are in trouble.Unemployment is going to be on the rise, the people know it. The [CB]s around the world has increased their gold holdings, we know why. The [DS]/[KH] is in trouble, the people see that she will attack the gold star families, she and the D's do not care about the people, why, because they are installed, they do not need votes. Trump and the patriots are about to trap the Ds and the RINOs. Trump and Johnson are now including the Save Act in the continuation bill, the Senate has a choice, let the government come to a screeching halt, or pass the Save Act, which will they choose.

 

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Economy

https://twitter.com/disclosetv/status/1830602473230520670

https://twitter.com/WallStreetSilv/status/1830615340004577345

https://twitter.com/KobeissiLetter/status/1830345886456484274

  in July 2024 than in July 2019. At the same time, average weekly wages DROPPED in 43% of the 389 metropolitan areas. In 5 of the 8 highest-paying areas with average weekly wages above$1,400, salaries declined year-over-year. The labor market is weakening.

https://twitter.com/KobeissiLetter/status/1830601959989977269

  16.4%. In previous business cycles, has been a leading indicator for unemployment. It now suggests that the unemployment rate may increase toward 5.5% in coming months. The labor market is trending toward a recession.

https://twitter.com/Rasmussen_Poll/status/1830614154820161568

https://twitter.com/WallStreetSilv/status/1830359854252233075

https://twitter.com/KobeissiLetter/status/1830305336365875205

  year-over-year increase. On the other hand, this was 39% lower than the 300 tonnes of purchases seen in Q1. The largest buyers were the National Bank of Poland, the Reserve Bank of India, and the Central Bank of Turkey. Why are central banks calling for a "soft landing" while stocking up on gold?

https://twitter.com/elonmusk/status/1830485806672118138

  White House, we will continue upon our Successes by creating an Environment that ensures ALL Workers, and Businesses, have the opportunity to prosper and achieve their American Dream. We will, MAKE AMERICA GREAT AGAIN!

Political/Rights

https://twitter.com/KanekoaTheGreat/status/1830489418203021701

https://twitter.com/BehizyTweets/status/1830394576835600438

  and prisons will continue to lose massive sums of money that we could have spent on our own citizens if this problem is not solved.” - Shad White Something else I found interesting is how the state usually spends $6,995 every year per student, but they're now spending $7,699 on around 2,500 illegal immigrant kids because they also need English lessons This is WILD! Why are red states allowing it to happen? Deport them to sanctuary blue states until we can deport them back to their country.

https://twitter.com/TPostMillennial/status/1830641898400215362

https://twitter.com/EndWokeness/status/1830300942325174440

 

https://twitter.com/EndWokeness/status/1830401573219926448

Federal Appeals Court Rules Illegal Immigrants Have No Second Amendment Right to Bear Arms 

The Fifth U.S. Circuit Court of Appeals in New Orleans has ruled that illegal immigrants do not have the right to bear arms under the Second Amendment.

This ruling is a significant victory for the rule of law and American sovereignty, as it underscores the  

 the three-judge panel delivered a decisive response,

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Kamalanomics is failing, the people see through the gas lighting. There are more layoffs headed the people's way.Pending home sales looks very similar to 2008. People see the difference, Kamala and Biden are the destroyers of the economy and Trump is the builder of the economy. The [DS] is now preparing the communication blackout for the election, they will shutdown the social media platforms and try to have the corporations to remove the apps. Musk has a secret weapon, the satellites are also cell towers and people will be able to get info on their phones. Trump mentions at a rally that the plan started 8 years ago or way before that. He is also letting everyone know that his poll numbers are much higher than 50%.

 

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Economy

Kamalanomics: Even Apple Is Laying People Off Now

The Verge reports that Apple, the tech giant behind the iPhone and many other popular products that have made it one of the world’s most valuable companies, has recently made job cuts across its digital services group, according to a report by Bloomberg. The layoffs, which have aready affected around 100 employees, are said to be part of a “shift in priorities” for the division.

The majority of those laid off were working within the team that runs the Apple Books app and Apple Bookstore, with the remaining cuts being made to some engineering roles and services like Apple News. Despite these job cuts, sources familiar with the matter have stated that the layoffs are not a sign that Apple is shifting its focus away from services like Apple Books, and the app is still expected to receive future updates for new features.

Source: breitbart.com

Foot Locker Flees New York, Relocates Headquarters to Business-Friendly Florida

Foot Locker announced  its decision to relocate its corporate headquarters from New York City to St. Petersburg, Florida.

The sneaker retail giant cited the Empire State’s exorbitant tax burden and operational costs as primary factors in this strategic shift, according to the New York Post.

“To better support our strategic progress, increase team member collaboration, and maintain ongoing expense discipline, we made the decision to relocate our headquarters to St. Petersburg,” said CEO Mary Dillon in its second quarter financial results.

 According to the press release:

 025. Foot Locker is working with JLL’s Location Economics Practice to identify the new headquarters site.

Source: thegatewaypundit.com

https://twitter.com/KobeissiLetter/status/1829927217020752174

  the Midwest and South, according to the National Association of Realtors. Even as mortgage rates are at a 15 month low, limited inventory and record prices are limiting demand. Contract activity has been contracting for over 2 years and is now below levels seen in the 2020 Pandemic and 2008 Financial Crisis. It's hard to imagine housing affordability getting worse than it is now.

https://twitter.com/TrumpWarRoom/status/1829977423770796157

https://twitter.com/BitcoinMagazine/status/1829557775204237635

 

 

Political/Rights

https://twitter.com/ericmetaxas/status/1830075063384588752

570

Q !UW.yye1fxo No.47

Jan 21 2018 14:06:20 (EST)[The 16 Year Plan To Destroy America]

Hussein [8]

Install rogue_ops

Leak C-intel/Mil assets

Cut funding to Mil

Command away from generals

Launch 'good guy' takedown (internal remove) - Valerie Jarrett (sniffer)

SAP sell-off

Snowden open source Prism/Keyscore (catastrophic to US Mil v. bad actors (WW) +Clowns/-No Such Agency)

Devin Nunes is the CEO of the Trump Media & Technology Group (TMTG). Devin begins the conversation talking about Truth Social on how the company just went public and they are now implementing a video streaming surface. Censorship is on the rise, there is an attack on free speech. The house is now in the investigation phase, they cannot prosecute they can only investigate. When Trump wins the DOJ/FBI will be drained and justice will be served. With Facebook admitting it was in involved in censorship and they were taking orders from the Biden administration it is now proven that the elections were rigged. Accountability is coming.

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Kamala Harris destroyed the entire economic narrative with the interview. Nobody is believing what she is stating, its actually the opposite. The feel the economy, she cannot gas light the people. Musk lets everyone know that the debt cannot be sustained, we must go to the source of the problem. The [DS] is now panicking, the interview with [KH] bombed, people know it was edited and when the leaked raw version comes out the people will see the truth. [KH] sounds like a frightened little girl and she needed her daddy next to her. The queen is blocking the King, Trump wants the queen out of the way. CISA is now preparing for cyber attacks. The [DS] is ready to move forward with their plan, the patriots are ready for it all.

 

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Economy

 

https://twitter.com/ClayTravis/status/1829339800849052138

https://twitter.com/KobeissiLetter/status/1829236185517945019

  average of homes purchasing plans index declined to a new 12-year low. This comes as mortgage demand has hit its lowest levels since 1995 and prices extend their move into record territory. Buying a home is now a luxury.

https://twitter.com/drgurner/status/1829143834942415076

 

https://twitter.com/KobeissiLetter/status/1829497247563751482

https://twitter.com/WallStreetSilv/status/1829459055322288164

https://twitter.com/seanmdav/status/1829549575180529847

 

https://twitter.com/WallStreetSilv/status/1829481693972979891

94 US Banks Burdened by Uninsured Deposits – Risk of Bank Runs

A new study by Florida Atlantic University believes that 94 separate US banks are facing a significant risk of bank runs. The at risk banks have all reported a 50% or higher ratio of uninsured deposits to total deposits. Basically, they simply do have the hard currency to shell out in the event of a panic.

Banks currently limit cash withdrawals under the pretense of money laundering and security. They will ask all sorts of questions if you even TRY to withdraw your money. They realize we are on the verge of a crisis in banking on a global scale.

The University’s Liquidity Risk from Exposures to Uninsured Deposits index found that BNY Mellon and John Deere Financial have a 100% ratio of uninsured deposits, followed by State Street Bank (92.6%), Northern Trust (73.9%), Citibank (72.5%), HSBC Bank (69.8%), JP Morgan Chase (51.7%), and U.S. Bank (50.4%).

Source: armstrongeconomics.com

https://twitter.com/elonmusk/status/1829485522873623014

 

Political/Rights

Texas State Rep. Shawn Thierry Breaks Free from Democrat Party, Joins GOP in Bold Move Against Radical Left  

This pivotal decision comes as more and more Americans awaken to the extreme ideologies being pushed by the radical left.

“I am leaving the left and joining the party of family, faith, and freedom,” Thierry said in a statement Friday.

Her statement resonates with countless citizens who are fed up with the Democrats’ relentless push for policies that undermine traditional values and threaten the well-being of families.

Thierry took to X to share her heartfelt decision:

Source: thegatewaypundit.com

https://twitter.com/StephenM/status/1829214159311122885

Colorado Mayor Admits Police Have Lost Control of Part of Community to Venezuelan Illegal Migrant Gang “Tren de Aragua” 

In California roaming groups of military-aged illegal migrants have been caught trying to take control of school busses full of children [STORY HERE].  Parents of the children formed defensive perimeters to block t...

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Click On Picture To See Larger PictureThe [DS] is trying to get control of prices and to prove the oil companies and stores are price gouging. Newsom wants price controls on oil, this will backfire. The farmers are struggling. Trump is going to make the US the capital of Crypto. The [DS] is panicking, they know [KH] cannot drive this home, they need Trump to quit the debate, this is why they are changing the rules. Once [KH] debates its game over. Trump confirms that the fake news is pushing fake poll numbers. Trump has warned the [DS] not to cheat in the election. Trump always gives the [DS] to do the right thing. The [DS] will cheat and we can see how they are trying to do it. Countermeasures are in place, they are trapped.

 

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Economy

Newsom Tells CA Lawmakers He'll Force Special Session If They Don't Pass His Bill to Increase Gas Prices

Grasping for relevance, California Gov. Gavin Newsom is in the midst of a bit of a temper tantrum this week with the legislature - threatening to convene a special session if they don't pass his proposal to further regulate California's oil and gas industry. Industry analysts say that the proposal, which would force refineries to "maintain a minimum fuel reserve to avoid supply shortages," would lead to increased prices for drivers in California, Arizona, and Nevada.

 .

 

 

Source: redstate.com

Kamala’s Top Campaign Spokesman Confirms Kamala Still Supports Fracking Ban Despite Her Fracking Flip-Flop

Yes, comrade Kamala Harris still supports a ban on fracking—her top campaign spokesman just confirmed this during an interview with CNN.

In the first part of the interview, Tyler sidestepped questions from CNN’s John Berman regarding Harris’s shift in position on fracking.

As Berman pressed the issue, Tyler confirmed that Harris has not “changed her mind” on a fracking ban, despite recent attempts by her campaign to suggest otherwise.

 

Source: thegatewaypundit.com

A Sales Recovery Did Not Occur": Pending Home Sales Crash To Record Low 

After tumbling in April, and rebounding modestly in June, analysts expected a continued gain in pending home sales in July, but it wasn't meant to be: moments ago the NAR reported that in July, Pending Home Sales tumbled 5.5% MoM, a huge miss to the 0.2% expected gain (and down from a 4.8% increase in June), and also slumped 4.6% YoY, a modest improvement from the 7.8% plunged in June but also missing expectations of a -2.0% drop.

That dragged the Pending home sales index to 70.2%, a fresh record low.

The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

"A sales recovery did not occur in midsummer. The positive impact of job growth and higher inventory could not overcome affordability challenges and some degree of wait-and-see related to the upcoming U.S. presidential election," NAR Chief Economist Lawrence Yun said in a statement.

Sales decreased in all four US regions, especially in the Midwest and South. The Northeast registered the smallest decline last month, and Yun noted the New England region has performed better than others recently.

The Northeast PHSI waned 1.4% from last month to 64.6, an increase of 2.4% from July 2023. The Midwest index reduced 7.8% to 67.8 in July, down 11.4% from one year ago.

The South PHSI sank 6.