Existing home sales dropped 5.9% in March while median prices hit $403,700. New home sales jumped 7.4% but prices fell 7.5% as buyers sought cheaper homes. Durable goods orders surged 9.2% as companies rushed purchases ahead of potential tariffs.
A quick market insights. Existing home sales dropped 5.9% in March, the biggest monthly decline since late 2022. Prices rose to a median of $403,700, up 2.7% from last year. Meanwhile, new home sales rose 7.4%, driven by lower mortgage rates and more inventory. The median new home price fell 7.5% to $403,600 as the market shifted towards smaller, cheaper homes. The Fed's Beige Book said tariff worries hurt business outlooks in several regions. Durable goods orders jumped 9.2% in March as buyers rushed to beat possible tariffs on big-ticket items. Jobless claims ticked up to 222K, but the job market stayed stable as companies held off on layoffs. Found this helpful? Please like our post and tag a friend, contact us through our website, or message us right here.
