Consensus forecasts put existing home sales up to 5.0 million, compared to the 4.92 million for March.
New home sales increased 1.5% in March after an unusually weak February – February new home sales fell 7.6%. Observers pointed to the low supply as a result of tight credit and supply chain constraints in the sector. The market is looking for new home sales of at least 430,000, compared to the previous month’s 417,000.
The FHFA Home Price Index is based on single-family housing data provided by Fannie Mae and Freddie Mac. The index for February improved 0.7% after a 0.6% gain in January. Year-over-year, the index increased 7.1% in February.
For more information on the housing market, visit our homebuilders category.
Max Chen contributed to this article.