Mixed Signals seem to be everywhere; existing-home sales dropped month-to-month as the median price increased in March, according to a report released April 22, while another report showed new home sales fell as the median price increased.
One week before those reports, the Housing Market Index, a measure derived from a survey conducted by the National Association of Home Builders, dropped for the third straight month largely on the basis of a decline in “buyer traffic,” meaning that at least in the eye of builders, window-shopping—literally —is slipping.
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