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US existing-home sales rose 14.5% in February to seasonally adjusted annual rate of 4.58 million; inventory of unsold homes was 980,000, equal to 2.6 months of the monthly sales pace: NAR

John Burns Consulting: Rising incomes, falling home prices should ease affordability challenges, but changes to date aren't enough for a reset; despite declines in California, Northwest and Southwest, US resale home values still 36% above pre-Covid levels

Analysts on US housing: Brandywine Global views market as stuck, as low affordability hampers buyers and sellers don't want to budge much on price; Comerica sees 2023 sales of existing single-family homes falling 20%, new single-family homes declining 10%

Bloomberg: For many homebuyers, it's new construction or nothing amid lack of existing homes for sale; that's good for builders, but may worsen inflation, as homebuilding is inherently inflationary as it involves securing building materials, hiring labor

Share of new, existing US homes sold in Q4 that were affordable to families earning a median income of US$90,000 was 38.1%, down from 42.2% in Q3; decline led by rising mortgage rates, supply chain disruptions, elevated construction costs: NAHB

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