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Previous Month: 4,270,000
- Actual: 4,020,000
- Change from Previous Month: -5.85% (-25,000 homes)
- Change from A Year Ago: -2.43% (-10,000 homes)
- Inventory: 1,330,000 homes.
(4.0 months supply | +220,000 [+19.82%] Year-on-Year.)
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The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.
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Median Price: $403,700
- Price Change from A Year Ago: +2.75% (+$108,000)
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From Today's Report:
"...'Home buying and selling remained sluggish in March due to the affordability challenges associated with high mortgage rates,' said NAR Chief Economist Lawrence Yun. 'Residential housing mobility, currently at historical lows, signals the troublesome possibility of less economic mobility for society.'
'In a stark contrast to the stock and bond markets, household wealth in residential real estate continues to reach new heights,' Yun said. "With mortgage delinquencies at near-historical lows, the housing market is on solid footing. A small deceleration in home price gains, which was slightly below wage-growth increases in March, would be a welcome improvement for affordability. With real estate asset valuation at $52 trillion, according to the Federal Reserve Flow of Funds, each percentage point gain in home prices adds more than $500 billion to the household balance sheet.'..."
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