The existing home sales in the United States have shown a notable slowdown in their decline, indicating potential stabilization in the housing market. According to the latest data updated on May 22, 2024, the existing home sales indicator halted at -1.9% in April, compared to a -3.7% decline in March.
This month-over-month analysis reveals that while the sector is still experiencing a downturn, the rate of decrease has lessened significantly. In March 2024, home sales plunged by 3.7%, indicating a more turbulent market environment at the time. However, April's figures suggest a decrease of only 1.9%, pointing to a potential stabilization or even an upcoming rebound in the housing market.
Market analysts are optimistic that this trend, if it continues, could reverse the fortunes of the housing sector, which has been grappling with a series of declines. They recommend keeping a close eye on upcoming monthly data releases to better gauge the trajectory of the market's recovery.
