Sales of previously owned houses in the US dropped 4.9 percent to a seasonally adjusted annual rate of 5.21 million in March 2019 from the previous month's 11-month high and compared to market expectations of a 3.8 percent fall. Sales of single family homes slumped 4.9 percent to 4.67 million, following a 12.6 percent jump in February, and sales of condos declined 5.3 percent to 0.54 million, after being unchanged in the previous month. The median house price increased to $259,400 from $250,100 in February and $249,800 a year earlier. The months' worth of supply went up to 3.9 from 3.6 in February. Year-on-year, existing home sales dropped 5.4 percent. Existing Home Sales in the United States averaged 3954.18 Thousand from 1968 until 2019, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970.
Existing Home Sales in the United States is expected to be 5150.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Existing Home Sales in the United States to stand at 4900.00 in 12 months time. In the long-term, the United States Existing Home Sales is projected to trend around 4700.00 Thousand in 2020, according to our econometric models.