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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 published with the permission of Confounded Interest – Online Course Notes for Financial Markets. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

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

 

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