Existing Home Sales Rise 1.1% YoY As EHS Inventory Hits All-time Low (Median Price Rises 5.8% YoY)

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.

ehsdec17

The median price of existing home sales rose 5.8% YoY.

ehsmedprice012418

How long before inventory returns to the market for existing home sales? Just ask The Eagles!

If inventory DOESN’T return, NAR Chief Economist Lawrence Yun will likely agree with Jeff Lebowski about hating The Eagles.

dudeeagles

 

Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I am a contractor for Money Map Press, publisher of Money Morning, Sure Money, and other information products. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. In some cases I receive promotional consideration on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.

Leave a Reply