Existing Home Sales Fall Further Than Expected

The National Association of Realtors reported a little while ago that the annualized pace of Existing Home Sales fell 3.6% in March and that exceeded the expected drop of just 0.2%. In raw numbers, March’s annualized volume fell to 6.01M from a slightly revised 6.24M. Also just out from the Conference Board, its Index of Leading Economic Indicators notched a 1.3% rise last month after February’s previously reported 0.2% rise was revised to a drop of 0.1%. Still to come later is the Kansas City Fed’s Manufacturing Index. Treasuries have reversed earlier, mild price declines with prices in the longer end up for the day. The Long Bond rests at 2.23% with the Ten-Year at 1.54%.