The latest batch of macro data revealed that, while home prices saw a 33-month high, rates of housing starts, pending home sales and existing-home sales were down month over month.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA index logged a 5.8% annual gain in March, up from a 5.7% increase the prior month, showing the continued rising trend in home prices across the U.S.
During April, privately owned housing starts in the U.S. increased by a seasonally adjusted rate of 0.7% year over year, but saw a decrease of 2.6% from March's estimate, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The rate of single-family housing starts was up 8.9% year over year, and up 0.4% in April from the March rate.
New single-family home sales slowed in April, posting a slight annual gain of 0.5%, but down 11.4% from March's revised rate, according to the Census Bureau and HUD.
Existing-home sales in the U.S. were up 1.6% year over year, but fell by 2.3% on a monthly basis in April, according to the National Association of Realtors.
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