Existing Home Sales (Mar.)

Surging mortgage interest rates pushed March existing home sales down to their lowest since the height of COVID-19-restirctions in mid-2020. We expect mortgage rates to rise further over the next year, and that will lead to an additional fall in activity. But significant pent-up demand from the last couple of years, and gradual improvement in inventory mean the decline will be relatively modest. French election Drop-In (21^st April, 09:00 BST/16:00 SGT): Join our Europe and Markets economists the morning after the crucial Macron vs Le Pen debate for a briefing about risks around the presidential election, including to the French economy, the European Union and the euro. Register now.