Comments on August Existing Home Sales

Earlier: NAR: Existing-Home Sales Increased to 5.49 million in August A few key points: 1) Existing home sales were up 2.6% year-over-year (YoY) in August.  This was the second consecutive YoY increase - following 16 consecutive months with a YoY decrease in sales. 2) Inventory is still low, and was down 2.6% year-over-year (YoY) in August. 3) As usual, housing economist Tom Lawler's forecast was closer to the NAR report than the consensus. See: Lawler: Early Read on Existing Home Sales in August .   The consensus was for sales of 5.38 million SAAR.  Lawler......(read more)

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