US Existing Home Sales Decline -2.7% In March As Available Inventory Remains MIA (Median Price YoY At 15.23% YoY As Fed Keeps Foot On Monetary Accelerator)

US existing home sales declined -2.7% MoM in March and are down -3.8% YoY.

The median price of existing home sales are still sizzling at 15.23% YoY while inventory available still remains MIA by historic standards.

While mortgage rates have been smoking, existing home sales growth slowed compared to February as the US begins its Spring/Summer buying season.

WHO is buying homes? There are considerably purchases by investors as of Q4 2021 taking advantage of Fed stimulypto.