US Home Sales Fall to Four-Month Low as Prices Continue to Increase

Source: US Census Bureau

US home sales declined for the third straight month in March to hit the lowest level in four months, as prices continued to grow during the period. XHB is down 1.87%, while ITB is down 0.90%.

• New houses sold in March stood at 763,000, down by 8.6% from 835,000 in February and 12.6% lower than March 2021’s 873,000.
• The latest reading is the lowest in four months, after the 753,000 houses sold in November last year.
• New houses for sale were 407,000, up 3.8% from 392,000 in February and 33.4% higher than the 305,000 houses recorded in March last year.
• The median sales price of new houses sold for the month was $436,700, up from $421,600 in February and $359,600 the previous year.
• The average sales price stood at $523,900, up from $508,100 in February and $414,700 in March 2021.