A Few Comments on September Existing Home Sales

Earlier: Existing Home Sales increased in September to 5.47 million SAAR Inventory remains a key issue. Here is a repeat of two paragraphs I wrote about inventory a few months ago: I expected some increase in inventory last year, but that didn't happened.  Inventory is still very low and falling year-over-year (down 6.8% year-over-year in September). More inventory would probably mean smaller price increases and slightly higher sales, and less inventory means lower sales and somewhat larger price increases. Two of the key reasons inventory is low: 1) A large number of single family......(read more)

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