Tuesday, January 19, 2016

Existing Home Sales: Take the Over

by Bill McBride on 1/19/2016 11:52:00 AM

A short note: The NAR will report December Existing Home Sales on Friday, January 22nd at 10:00 AM.

The consensus, according to Bloomberg, is that the NAR will report sales of 5.19 million. Housing economist Tom Lawler estimates the NAR will report sales of 5.36 million on a seasonally adjusted annual rate (SAAR) basis, up from 4.76 million SAAR in November.

Based on Lawler's estimate, I'd take the "over" on Friday.

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