Look Ahead to Existing Home Sales for July

The NAR is scheduled to release Existing Home Sales for July at 10:00 AM tomorrow. The consensus is for 5.43 million SAAR, up from 5.38 million in June. Housing economist Tom Lawler estimates the NAR will reports sales of 5.40 million SAAR for July and that inventory will be down 1.0% year-over-year. Based on Lawler's estimate, I expect existing home sales to be close to the consensus for July. Housing economist Tom Lawler has been sending me his predictions of what the NAR will report for 8+ years.  The table below shows the consensus for each month, Lawler's predictions, and the......(read more)

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