Weekly Market Observations - March 7,2024

Here’s Our Weekly Market Observations :

Existing home sales up 3.1% in January but down 1.7% YOY

Median home sales price up 5.1% YOY to $379,100

Housing inventory inches up from to 3 months in January

Key inflation metric for January came in as expected

Average 30-year fixed mortgage rates up slightly to 6.94%