Continuum Economics
  • Search
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
  • Calendar
  • Forecasts
  • Events
  • Data
  • Newsletters
  • My Alerts
  • Community
  • Directory
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
    • All
    • Thematic
    • Tactical
    • Asia
    • EMEA
    • Americas
    • Newsletters
    • Freemium
    • Editor's Choice
    • Most Viewed
    • Most Shared
    • Most Liked
  • Calendar
    • Interactive
      • China
      • United States
      • Eurozone
      • United Kingdom
    • Month Ahead
    • Reviews
    • Previews
  • Forecasts
    • Forecasts
    • Key Views
  • Events
    • Media
    • Conference Calls
  • Data
    • Country Insights
    • Shadow Credit Ratings
    • Full CI Data Download
  • Newsletters
  • My Alerts
  • Community
    • FX
    • Fixed Income
    • Macro Strategy
    • Credit Markets
    • Equities
    • Commodities
    • Precious Metals
    • Renewables
  • Directory
  • My Account
  • Notifications Setup
  • Account Details
  • Recent Devices
  • Distribution Lists
  • Shared Free Trials
  • Saved Articles
  • Shared Alerts
  • My Posts
Published: 2024-04-17T13:52:14.000Z

Preview: Due April 18 - U.S. March Existing Home Sales - Correcting a sharp February increase

byDave Sloan

Senior Economist , North America
1

We expect existing home sales to see a 3.0% March decline to 4.25m, correcting a 9.5% February increase that was similar to a sharp 11.3% rise in February 2023. The February 2023 surge was subsequently gradually reversed over several months, with March 2023 falling by 4.0%. 

The February 2024 surge was much sharper than suggested by pending home sales data, which is designed to predict existing home sales, and housing sector data has been mixed. Generally there is no strong trend, but the NAHB homebuilders’ survey continued to move higher in March.  We expect corrections lower in three of the four regions for existing home sales, the exception being a rise in the Northeast after three straight flat months.

We expect the median existing home sales price to rise by a strong 3.5% on the month, extending the 1.6% rise of February which was the first in eight months with the spring acceleration being largely seasonal. Yr/yr growth however would continue to accelerate, to 6.0% from 5.7%, extending the move of a low of -3.0% in May 2023.

Continue to read the article for free
Login

or

or

Topics
Foreign Exchange
Data

GENERAL

  • Home
  • About Us
  • Our Team
  • Careers

LEGAL

  • Terms and Conditions
  • Privacy Policy
  • Compliance
  • GDPR

GET IN TOUCH

  • Contact Us
Continuum Economics
The Technical Analyst Awards Winner 2021
The Technical Analyst Awards Finalist 2020
image