Stock market is higher, Bond market a bit lower. The Feds Kick off their 2-day meeting with a statement and press conference at 2:00om ET.

Existing Home Sales, which is a measurement of existing homes sold were up almost 15% in February. This is much stronger than the estimated 5% gain. Sales were down 37% Y/Y in January but February is 22% Y/Y. We are making progress.

Inventory Inventory Inventory is very low at 980,000 but up 15% over last year. There is a 2.6 months’ Supply of homes currently. 4.6 months is considered normal. Active listings are only 578,000 or 1.5 months of inventory. It’s a very tight market.

First Time Home Buyers account for 27% of sales down from 31%. Cash buyers account for 28% of sales down from 29%. Investors made up 18% up from 16%. Investors are seeing the opportunity.

Check back in tomorrow to see what the Feds have to say.

Have a great rest of your week.