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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
- New home sales were stronger than expected in March at 693k saar (cons 668k).
- Latest revisions see sales jumping 8.8% M/M (cons 0.9%) after a downward revised -5.1% (initial -0.3%) in Feb.
- There are strong March increases seen across the major regions, with a particularly large 28% increase for the smallest northeast region (other three regions between 5.3-8.6% increases).
- Months of supply fell back from 8.8 in Feb to 8.3, although that’s still above the 8.1 seen in Mar’23 and is high historically as opposed to existing homes where supply is still more constrained relative to pre-pandemic levels – see chart.
- This is reflected in pricing, with average new sale prices -1.9% Y/Y vs +4.8% Y/Y for existing.
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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