A Rate Hike, Home Sales, & More
Week in Review: Mar. 20-24
Things settled down this week, but we still had a Fed decision on interest rates, some new housing data, and a few other updated indicators.
Gas prices fell during the week ending March 20 after rising during the two previous weeks and are now up to $3.534/gallon.
TSA Checkpoint Travel Numbers
Travel numbers for the week ending 3/21/2023 were just 1.3% below 2019 levels, which is the closest they’ve been for some time.
Existing Home Sales
Existing home sales surged 14.5% higher in February, ending a streak of 12-straight monthly decreases. This has a lot do with mortgage rates in February falling to the lowest levels since September (they’ve since gone back up). Sales were still 22.6% lower than they were in February 2022.
The median sales price in February fell 0.2% on a year over year basis. That’s the first annual decrease in median prices in over a decade.
Fed Interest Rate Decision
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