One aspect I didn’t like to see in this report is that the days on market fell and are back to under 30 days. This is the reality of our world: total active listings are still near all-time lows and demand so far has been stable since
We only have 2.6 months’ worth of housing inventory in the U.S. after coming off the single biggest home-sales crash year in history. That is where we are today in America. As expected, existing home sales fell from February to March since the previous month’s report was intense.
We have a workable range for 2023 sales in the existing home sales market between 4 million and 4.6 million. If we are trending below 4 million — a possibility with new listing data trending at all-time lows — then we have much weaker details ⇒
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