Article
Existing US Home Sales Plunged In March, Despite Falling Mortgage Rates
Existing US Home Sales Plunged In March, Despite Falling Mortgage Rates
Affordability-aiding lower mortgage rates battled a sentiment-sapping surge in geopolitical panic in March, with analysts expecting the latter to outweigh the former with a modest 0.7% MoM decline (after January's plunged - weather? - and February's modest rebound).
The analysts under-estimated the fear from war-mongering as existing home sales plunged 3.6% MoM (down bigly from an upwardly revised 2.7% MoM jump in Feb). That is the second biggest drop in existing home sales since Nov 2022...
Source: Bloomberg
That dragged Existing Home...
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