National Inventory of Existing Home Drops

Good results for May, well-outperforming “analyst expectations”.

The inventory of existing homes dropped, nationwide from 11.2 months of inventory to 10.8 months of inventory from April to May, a 3.3% reduction.

On absolute terms, the national inventory dropped from 4,553,000 to 4,490,000, a reduction of 63,000 homes.

Existing home sales rotes 2% to a 5m per year pace.

Full results here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s