The headline existing home sales growth rebounded with the authors saying sales “Affordability continues to be a pressing issue because new and existing housing supply is still severely subpar.“.
Analyst Opinion of Existing Home Sales
The rolling averages have been slowing since the beginning of 2017, and they marginally decelerated this month. The rolling averages are continue to be marginally in contraction. Housing inventory is now at historical lows for Februarys – and if you do not have enough houses for sale – then that means home sales cannot improve.
The graph below presents unadjusted home sales volumes.
Here are the headline words from the NAR analysts: