Lawler: Early Read on Existing Home Sales in March

From housing economist Tom Lawler: Early Read on Existing Home Sales in March Based on publicly-available local realtor/MLS reports from across the country released through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 5.51 million in March , down 0.5% from February's preliminary pace and down 2.8% from last March's seasonally adjusted pace. Unadjusted sales should show a larger YOY decline, reflecting this March's lower business day count relative to last March's. Local realtor/MLS data indicate that ......(read more)

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