Lawler: Early Read on Existing Home Sales in September

Today, in the Calculated Risk Real Estate Newsletter: Lawler: Early Read on Existing Home Sales in September

A brief excerpt:

From housing economist Tom Lawler:

Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 4.00 million in September, down 1.0% from August’s preliminary pace and down 14.5% from last September’s seasonally adjusted pace.  Unadjusted sales should show a larger YOY decline, reflecting this September’s lower business day count relative to last September’s.

Local realtor/MLS reports suggest that the median existing single-family home sales price last month was up by about 3.4% from last September.

CR Note: The National Association of Realtors (NAR) is scheduled to release September existing home sales on Thursday, October 19th, at 10:00 AM ET. The consensus is for 3.94 million SAAR, down from 4.04 million in August.

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