Existing Home Sales: Expect a Miss

The NAR will report November Existing Home Sales on Tuesday, December 22nd at 10:00 AM. The consensus, according to Bloomberg, is that the NAR will report sales of 5.32 million. Housing economist Tom Lawler estimates the NAR will report sales of 4.97 million on a seasonally adjusted annual rate (SAAR) basis, down from 5.36 million SAAR in October. Housing economist Tom Lawler has been sending me his predictions of what the NAR will report for over 5 years.  The table below shows the consensus for each month, Lawler's predictions, and the NAR's initial reported level of......(read more)

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