Comments on December Existing Home Sales

Earlier: NAR: Existing-Home Sales Decreased to 4.99 million in December A few key points: 1) The key for housing - and the overall economy - is new home sales, single family housing starts and overall residential investment. Unfortunately this key data is not currently being released due to the government shutdown .  However, overall, this is still a somewhat reasonable level for existing home sales, and the weakness at the end of 2018 was no surprise given the increase in mortgage rates. 2) Inventory is still low, but was up 6.2% year-over-year (YoY) in December. This was the fifth......(read more)

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