A Few Comments on May Existing Home Sales

Earlier: NAR: "Existing-Home Sales Rise 1.1 Percent in May" Two key points: 1) As usual, housing economist Tom Lawler's forecast was closer to the NAR report than the consensus.  The NAR reported sales of  5.62 million SAAR, Lawler projected 5.65 million SAAR, and the consensus was 5.55 million SAAR.  See: Lawler: Early Read on Existing Home Sales in May "I project that US existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 5.65 million in May, up 1.4% from April's preliminary pace and up 3.3% ......(read more)

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