US Sept existing home sales 6.29m vs 6.09m expected

Author: Adam Button | Category: News

US existing home sales data from the National Association of Realtors

US existing home sales data from the National Association of Realtors
  • Prior was -5.88m
  • +7.0% m/m vs -2.0% prior
  • Supply at 2.4 months vs 2.6 months prior
  • Median price $352,800 vs $356,700 prior
  • Median prices 13.3% vs +14.9% y/y prior
This is a good sign for the US housing market. I think that economists are underestimating the upside from home prices from here. That home equity will be tapped and recycled into the economy while higher new home activity will provide a lift to activity and commodity prices.

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