Higher prices cooled US housing market in March
- Seattle, Portland, San Francisco
- 2022/05/02
Home prices rose nationwide, and the median price ↑ 15% YoY to $375K. The drop in sales pushed supply up to -mo at the current sales pace, ↑ 11.8% MoM. Sales fell in all regions except for the West, where they were flat. The Midwest saw the biggest decline of ↓ 4.5%, while in the South they ↓ 3%, the same as in the Northeast. The Fed is moving to hike interest rates in 2022 to combat inflation, which will have effects across the economy.
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