US March existing home sales 5.60m vs 5.55m expected

March US existing home sales data

  • Prior was 5.54m (unrevised)
  • Sales up 1.1% m/m vs +0.2% expected
  • Prior m/m rise was 3.0%
  • National median price $250,000, up 5.8% year-over-year
  • Inventories down 7.2% y/y
  • 3.6 months supply (balanced is around 6 months)

I can’t see any direction but higher for US housing in the next few years.

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