Early Read on Existing Home Sales in June

From housing economist Tom Lawler: Based on reports released by various realtor associations/MLS from across the country, I predict that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 5.45 million in June, up 1.9% from May's pace, and up 8.8% from last June's seasonally adjusted pace. Unadjusted home sales should an even larger YOY increase, reflecting the higher business day count this June compared to last June. Realtor/MLS data suggest that the inventory of existing homes for sale as estimated by the NAR should be about......(read more)

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