Existing home sales in the United States posted a jump of 4.3% for December in new data from the National Association of Realtors. The seasonally adjusted and annualized rate was 4.57 million houses. Where this data changes though in the December existing home sales data with a very nasty revision. The annualized December sales was taken all the way down to 4.38 million units from what was originally reported as 4.61 million units and that created a drop of -0.5%. The median sales price per existing home was down 2% year over year to a level of $154,700.00. Inventories are down to a 6.1-month supply at fell to only 2.31 million units.
Gains in Existing Homes Sales, Followed By Nasty Revision Lower
By
Jon C. Ogg
Published
About the Author
Jon C. Ogg →
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
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