Early Look at Existing Home Sales in October

From housing economist Tom Lawler: Based on publicly-released realtor/MLS reports from across the country which combined total over 200,000 residential sales, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of about 5.33 million in October, down 4.0% from September's preliminary pace and up 3.3% from last October's seasonally adjusted pace. On a not seasonally adjusted basis the YOY % change in home sales last month was down sharply from September in the vast majority of markets, and there were quite a few......(read more)

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