Weekly Market Observations — March 26,2024

Here’s Our Weekly Market Observations :

New home construction permits up 1.9% MOM and 2.4% YOY in February

New home construction starts up 10.7% MOM and 5.9% YOY

Existing home sales up 9.5% MOM and decreased 3.3% YOY

Median home sales price increased 5.7% YOY to $384,500

Housing inventory inches down slightly MOM to 2.9 months

Average 30-year fixed mortgage rates up slightly to 6.87%