Lawler; Early Read on Existing Home Sales in December: Big Drop

From housing economist Tom Lawler: Early Read on Existing Home Sales in December: Big Drop Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 4.97 million in December , down 6.6% from November's preliminary estimate and down 10.6% from last December's seasonally adjusted pace. On the inventory front, local realtor/MLS data, as well as data from other inventory trackers, suggest that the inventory of existing homes for ......(read more)

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