The US existing home sales for the month of November will be released at 10 AM ET. The expectation is for a 5.20M annualized sales pace. Existing Home sales account for an estimated 90% of the US home sale market (with new home sales making up the rest).
Last month, the sales pace increased to 5.26M. This was the highest pace since September 2013 when it also was at 5.26M. The median and average sales price remained steady last month. Versus a year ago, the median sales price is up 5.5% and the average is up 4.0%.
The months supply of homes declined to 5.1 months. The high supply for the year came in at 5.7 months, the low for 2015 was 4.9 months.
Preview of US Existing Home sales for November
