US: Existing Home Sales to register a new retreat at -2.2% in March – TDS – by hareshmenghani UnitedStates EconomicIndicator Housing Banks
“The demand side of the housing market is likely to continue offering signs of bottoming in the near term as suggested by nascent indications of improvement from mortgage applications and pending home sales. In the meantime, we look for existing home sales to register a new retreat at -2.2% m/m in March to 4.48mn units from 4.58mn in February ; however, this decline would not be enough to offset the surprising 14.5% surge in February.
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