• A Few Comments on May Existing Home Sales

    3 monthes ago - By Calculated Risk

    Earlier: NAR: "Existing-Home Sales Backpedal, Decrease 0.4 Percent in May"
    A few key points:
    1) As usual, housing economist Tom Lawler's forecast was closer to the NAR report than the consensus. See: Lawler: Early Read on Existing Home Sales in April. The consensus was for sales of 5.56 million SAAR, Lawler estimated the NAR would report 5.47 million SAAR in May, and the NAR actually reported 5.43 million.
    2) Inventory is still very low and falling year-over-year with inventory down 6.1% year-over-year in May. This was the 36th consecutive month with a year-over-year decline in inventory...
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  • US existing home sales fall for second straight month

    US existing home sales fall for second straight month

    3 monthes ago - By CNBC

    Existing home sales were expected to increase in May.
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  • NAR: "Existing-Home Sales Backpedal, Decrease 0.4 Percent in May"

    NAR: "Existing-Home Sales Backpedal, Decrease 0.4 Percent in May"

    3 monthes ago - By Calculated Risk

    From the NAR: Existing-Home Sales Backpedal, Decrease 0.4 Percent in May
    Existing-home sales fell back for the second straight month in May, as only the Northeast region saw an uptick in activity, according to the National Association of Realtors®.
    Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 0.4 percent to a seasonally adjusted annual rate of 5.43 million in May from downwardly revised 5.45 million in April. With last month's decline, sales are now 3.0 percent below a year ago and have fallen...
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