Early Read on Existing Home Sales in September

From housing economist Tom Lawler: Based on publicly-released realtor/MLS reports from across the country released through today, I project that US existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of about 5.56 million in September, up about 4.7% from August's preliminary pace and up 9.0% from last September's seasonally-adjusted pace . I expect the NAR's estimate of the inventory of existing homes for sale at the end of September to be down about 1.7% from August's preliminary estimate, and down about 1.3% from last September.......(read more)

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