US: Existing Home Sales fall by 2.7% in March to 5.77M, below expected 5.8M

Joel Frank Independent Analyst

The US Existing Homes Sales unit rate fell by 2.7% MoM in March, the latest data release by the National Association of Realtors revealed on Wednesday. That meant the 12-month rolling number of sales (the unit rate) fell to 5.77M in March, below the economist consensus for 5.8M, marking a decline from February's unit rate of 5.93M.

The median house price continued to rise and came in at $375.3K in March. The number of units available rose a little to 0.95M in March from 0.85M a month earlier.

Market Reaction

FX markets did not react to the latest broadly as expected US home price data.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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