This is a syndicated repost courtesy of Confounded Interest – Online Course Notes for Financial Markets. To view original, click here. Reposted with permission.
December existing home sales, according to the National Association of Realtors, fell -3.6% from the previous month. This was worse than the expected -1.9% decline.
But on a positive note, existing home sales ROSE 1.1% on a Year-over-year (YoY) basis.
The bad news? The inventory of existing home sales fell to its lowest level EVER.
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The median price of existing home sales rose 5.8% YoY.
How long before inventory returns to the market for existing home sales? Just ask The Eagles!
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