Existing Home Sales (Annualized) vs 2-Year Treasury Yield
Existing Home Sales (Annualized) is currently 4.26M (up +0.2M). 2-Year Treasury Yield is currently 3.7% (down -0.3%).
| Metric | Existing Home Sales (Annualized) | 2-Year Treasury Yield |
|---|---|---|
| Current value | 4.26M | 3.7% |
| Previous reading | 4.08M | 3.99% |
| Change | +0.2M | -0.3% |
| Trend | up | down |
| Frequency | Monthly | Daily |
| Source | National Association of Realtors | U.S. Treasury |
| Last updated | 2026-03-20 | 2026-04-04 |
| Category | housing | rates |
What Existing Home Sales (Annualized) measures
Existing home sales measures the number of completed sales of previously owned homes, expressed as a seasonally adjusted annual rate. It accounts for approximately 85-90% of all home sales in the U.S.
At 4.26 million, existing home sales remain well below the 2021 peak of 6.1 million. The 'lock-in effect' — where homeowners refuse to give up sub-4% mortgages — continues to constrain inventory. For executives, this suppressed transaction volume affects real estate commissions, moving services, home improvement spending, and mortgage origination revenue across the industry.
What 2-Year Treasury Yield measures
The 2-year Treasury yield reflects market expectations for short-term interest rates over the next two years. It is the most sensitive government bond to Federal Reserve policy changes.
The 2-year yield at 3.71% — well below the current fed funds rate of 4.50% — signals that markets expect the Fed to cut rates. The wider this gap, the more aggressively markets expect easing. For CFOs, short-term borrowing costs may decline sooner than long-term rates, favoring shorter-duration financing strategies.
Frequently asked
Existing Home Sales (Annualized) is currently 4.26M, up +0.2M from the previous reading. Source: National Association of Realtors, updated monthly.
2-Year Treasury Yield is currently 3.7%, down -0.3% from the previous reading. Source: U.S. Treasury, updated daily.
At 4.26 million, existing home sales remain well below the 2021 peak of 6.1 million. The 'lock-in effect' — where homeowners refuse to give up sub-4% mortgages — continues to constrain inventory. For The 2-year yield at 3.71% — well below the current fed funds rate of 4.50% — signals that markets expect the Fed to cut rates. The wider this gap, the more aggressively markets expect easing. For CFOs