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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 fell -3.4% M/M (cons -3.2) in April after a marginally downward revised -2.6% (initial -2.4%) as it continues to chip away at February’s 13.8% jump.
- Relative to new home sales and building permits, existing home sales remain more depressed compared to pre-pandemic levels.
- Inventory picked up heading into the spring market, pushing the months of supply back to 2.9 after two months at 2.6. The 2.9 is looser compared to the 2.2 and 2.3 in Apr’22 and ’21 but still notably tighter than the 4.0 in 2017-19. That continues to limit house price declines at -1.7% Y/Y.
- From NAR’s Yun: "Roughly half of the country is experiencing price gains”… "Even in markets with lower prices, primarily the expensive West region, multiple-offer situations have returned in the spring buying season following the calmer winter market. Distressed and forced property sales are virtually nonexistent."
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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