US Existing Home Sales Decline -3.7% MoM In March (Worst Than Expected), Inventory Still Near All-time Low As Median Price of EHS Hits All-time High

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by confoundedinterest17

US Existing Home Sales fell -3.7% Month-over-month in March. Less than the expected -1.8% MoM.

But increased to 12.34% year-over-year. Aka, since Covid breakout.

The median price of existing home sales increased to $329.1k while inventory of existing home sales barely rose.

MBS inventory declined -28.5% AVAT%.

Time for The Fed to take its foot off the accelerator pedal?