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HOMZ - Existing Vs. New Home Sales: Sales Have Peaked Expect Prices To Soon Peak
Hoya Capital Housing
Existing home sales for April confirmed what we have already seen with new home sales: the market peaked at the turn of the year.
Sales declined 2.7%, seasonally adjusted, compared with March, to 5.85 million units annualized. That is the lowest number since last July’s 5.90 million.
Earlier this week we saw that housing permits and starts are both also off of their highest point of December and January.