4/29/2023 Market Update

In housing news, sales of new homes in March posted a surprisingly large increase of 10% from February to their highest level since March 2022. In contrast to sales of previously owned homes which are down more than 20% from a year ago, new home sales are only slightly lower than last year at this time. The median new-home price of $449,800 is 3% higher than a year ago.

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