US existing home sales data

  • Prior was 6.76m (revised to 6.65m)
  • Inventory at 1.04m units, or 1.9 months worth
  • Prices +14% y/y
  • 21 days to sell vs 43 a year ago

Inventory is so tight, it's down about 40% compared to a year ago. I get the sense that lots of would-be buyers are waiting on the sidelines and hoping for better conditions in the spring. I think they're going to be panic buying then, or next fall.