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A Few Comments on September Existing Home Sales

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Earlier: NAR: “Existing-Home Sales Inch 0.7 Percent Higher in September”First, as usual, housing economist Tom Lawler’s estimate was much closer to the NAR report than the consensus. So the slight month-to-month increase in reported sales, in September, was no surprise for CR readers.My view is a sales rate of 5.39 million is solid. In fact, I’d consider any existing home sales rate in the 5 to 5.5 million range solid based on the normal historical turnover of the existing stock. … Read entire story.

Source: Calculated Risk

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