Friday, January 24, 2014

FLASH UPDATE: Existing Home Sales (EHS) up 1% in December

The recent rise in mortgage rates in 2013 has provided for a slowdown in certain measures of the health of the housing market and so December’s +1% rise in Existing Home Sales (EHS) is somewhat encouraging.  The consensus estimate was for a +0.6% gain. 

However, clear signals of housing shaking off the effects of the rise in mortgage rates were still missing.  November’s EHS was revised down sharply from -4.3% to -5.9% and it was off -0.6% year-over-year...  And while sales prices continue to rise (+9.9% Y/Y), it had been rising more rapidly 6 months ago.

The next data release of interest is Pending Home Sales due next week. 


Tradex Global Advisory Services, LLC
investorrelations@thetradexgroup.com 
203-863-1500
@Tradex_Global

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