Tuesday, March 19, 2019

Lawler: Early Read on Existing Home Sales in February

by Calculated Risk on 3/19/2019 03:33:00 PM

From housing economist Tom Lawler: Early Read on Existing Home Sales in February

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 5.46 million in February, up 10.5% from January’s preliminary estimate and down 2.7% from last February’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 sale at the end of February will be up 5.7% from last February.

Finally, local realtor/MLS data suggest that the median US existing single-family home sales price last month was up by about 2.6% from a year earlier.

CR Note: Existing home sales for February are scheduled to be released on Friday, March 22nd. The consensus is for sales of 5.08 million SAAR.   Take the over!