Lawler: Early Read on 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 5.56 million in April , down 2.6% from March's preliminary pace and up 1.5% from last April's seasonally adjusted pace. Unadjusted sales as estimated by the NAR last month should be about 2.8% LOWER than last April's pace, with the "adjusted/unadjusted" YOY growth difference reflecting this April's lower business day count, as well as the......(read more)

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