Early Read on Existing Home Sales in November

From housing economist Tom Lawler ( same estimate, more discussion ): Based on publicly-available state and local realtor/MLS reports from across the country released through today, I predict that US existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 5.77 million in November, up 5.3% from October's preliminary estimate and up 3.0% from last November's seasonally adjusted pace. On the inventory front, realtor/MLS data suggest that inventories in November were down YOY by about the same amount was the case in October. How that......(read more)

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