Lawler: Early Look at Existing Home Sales in April

From housing economist Tom Lawler: Based on publicly-available state and local realtor/MLS reports 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 5.44 million in April, up 2.1% from March's preliminary pace, and up 5.8% from last April's seasonally adjusted pace. On the inventory front, national home listings typically show a sizable seasonal increase from March to April, and local realtor/MLS data suggest that was the case last month. However, these data suggest that this April's......(read more)

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