Comments on January Existing Home Sales

Earlier: NAR: Existing-Home Sales Decreased to 4.94 million in January 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 has been delayed 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 and early 2019 was no surprise given the increase in mortgage rates. 2) Inventory is still low, but was up 4.6% year-over-year (YoY) in January. This was the sixth......(read more)

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