March Existing Home Sales Key Takeaways: Inventory Green Shoots
March existing home sales increased 1.1 percent from February to 5.6 million units at a seasonally adjusted annual rate (SAAR), according to the National Association of Realtors, the second consecutive month of unexpectedly strong sales after a string of weak reports.
Rapid Reaction: March Existing Home Sales
March existing home sales rose 1.1 percent from February, to 5.6 million (SAAR), according to the National Association of Realtors. Sales were down 1.2 percent from a year ago.
Economic Strength Continues to Steady Mortgage Rates in the Face of Political Shocks
While geopolitical headlines temporarily seized markets’ attention – as they have time and time again over the past few years – underlying macroeconomic fundamentals continue to point to a reasonably strong U.S. economy.
March Home Sales Forecast: Damn the Weather
Wintry weather across much of the country in March kept home shoppers inside, compounding the headwinds from tight for-sale inventory and higher mortgage rates.
Homes Sold Faster Than Ever in 2017
As demand has outpaced supply in the housing market over the past three years, buying a home has become an exercise in speed and agility. The median valued home flew off the market in just 81 days last year, which was nine days faster than the year before.
Mortgage Rates Steady Despite Trade Tensions, Mixed Jobs Report
Breaking news and soft inflation data on Wednesday put slight downward pressure on mortgage rates, but they remained remarkably steady, which suggests that, at least for now, markets are writing off recent developments as transitory.
Trade Tensions Have Yet to Touch Mortgage Rates, Which Remain Steady
Fears over an escalation in trade tensions between the United States and China have not meaningfully spilled over into bond markets. That could change at any time.
Global Tumult Helps Keep Mortgage Rates Low
Just as macroeconomic fundamentals are poised to push rates higher, geopolitical fears seize the headlines, prompting a financial flight to safe assets and pushing mortgage rates downward.
January Case-Shiller Results and February Forecast: Prelude to Home Buying Season Already Hot
Home prices in Seattle, Las Vegas, and San Francisco posted the highest annual gains among the 20 cities, rising 12.9 percent, 11.1 percent and 10.2 percent, respectively.
