Behind the small decline in overall home sales in March were several pieces of good news. Sales of new homes rose, an increasing share of total home sales took place under non-distressed conditions, and mortgage demand improved. Finally, the increase in the inventory of homes for sale left would-be buyers with more choice and is a net positive for the housing recovery at this stage. Admittedly, it might ease the upward pressure on house prices a bit, but the months’ supply of unsold stock still looks consistent with double-digit price gains.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services