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.