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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Existing home sales were very close to consensus in March at 4.19m (cons 4.20m) after falling -4.3% M/M (cons -4.1).
- The decline comes after a particularly strong 9.5% increase in Feb, with that increase still looking surprisingly strong considering a much smaller uplift in pending home sales.
- Regionally, there was a partial reversal of recent trends: sales in the northeast increased for the first time since Nov’23 whilst the other major three regions all fell after strong increases.
- The median sales price increased 4.8% Y/Y.
- Months of supply increased on the month from 2.9 to 3.2. That’s up from 2.7 months in Mar’23 but remains below the 3.5-4 range seen in pre-pandemic years.
- NAR Chief Econ: "Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves." "More inventory is always welcomed in the current environment” […] "Frankly, it's a great time to list with ongoing multiple offers on mid-priced properties and, overall, home prices continuing to rise."
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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