Existing home sale may increase to 4.3M

 

  Prior Consensus Consensus Range
Existing Home Sales – Level – SAAR 4.13 M 4.300 M 4.210 M to 4.600 M

Market Consensus Before Announcement
Existing home sales in August made a moderate comeback, rising 7.6 percent to a 4.130 million annual rate, up substantially from July’s 3.840 million rate. Gains were broad based across regions. And supply edged down to 11.6 months from a recent high of 12.5 in July. Still inventories are quite bloated.

[Chart]
Existing home sales reached a peak in mid-2005 and have been easing since. Typically, a distinct reverse relationship exists between home sales and mortgage rates. However, sales and mortgage rates both have firmed in recent months.

Data Source: Haver Analytics

Hitesh Anand

I am a post graduate from Newcastle University, UK. I like studying and analyzing economic data and financial health of world.

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