Signs that the inventory of existing homes for sale had stabilised have proved to be short-lived. Inventory levels reached a new low in April. With so few homes on the market it is not surprising that existing home sales fell by 2.5% m/m, and we doubt sales will see any growth this year. But tight market conditions are not leading to an acceleration in house prices. The FHFA reported a rise of just 0.1% m/m in March, the smallest gain since the start of 2012.
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