Weekly Market Observations — April 25, 2023

Here’s Our Weekly Market Observations :

Existing home sales fell 22% YOY in March, down 2.4% from February

Median existing home sales prices fell 0.9% YOY

Multifamily operational costs spike with insurance, turnover, and utilities up over 10% YOY

More than 2x the number of Realtors as homes for sale in March

Average 30yr fixed mortgage rates are up slightly to 6.39%