Monday, December 21, 2015

Existing Home Sales: Take the Under Tomorrow

by Bill McBride on 12/21/2015 02:10:00 PM

I mentioned this over the weekend.

The NAR will report November Existing Home Sales on Tuesday, December 22nd at 10:00 AM.

The consensus, according to Bloomberg, is that the NAR will report sales of 5.32 million. Housing economist Tom Lawler estimates the NAR will report sales of 4.97 million on a seasonally adjusted annual rate (SAAR) basis, down from 5.36 million SAAR in October.

Based on Lawler's estimate, I expect a miss tomorrow.

Note:  Lawler is not always right on, but he is usually pretty close.  See this post for a review of Lawler's track record.