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US existing home sales rose to 5.54M v 5.43M expected and the prior 5.35M, up +3.6%% v +1.5% expected. Mortgage data has been volatile but stronger in late 2019 flowing onto housing as the stockmarket hit all time highs.

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US Existing Home Sales for December 2019

  • US existing home sales for December 5.54M vs 5.43M estimate, Prior 5.35 million no revision from previous month
  • Existing home sales 5.54M vs 5.43M estimate
  • Rises 3.6% versus 1.5% estimate
  • Overall sales were up 10.8% from a year ago.
  • Iinventories home for sale 1.4 million units.equivalent to 3.0 months supply. Last month 3.7 months
  • Sold inventory totals have dropped for 7 consecutive months from year ago levels.
  • Property stability remained on the market for 41 days in December versus 46 days in December 2018
  • Median home price $274,500. up 7.8% from December 2018.
  • 94 straight months of year-over-year gains

Affordability rankings declined in 81 metro areas.

  • South +2.2%
  • West -1.8%
  • Midwest -1.6%
  • Northeast unchanged

1st time homebuyers were responsible for 31% of sales 2nd homebuyers purchase 17% of the homes in December 2019 up from 15% last year.

Existing Home Sales in the United States averaged 3974.82 Thousand from 1968 until 2019, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970.

Source: NAR

From The TradersCommunity News Desk

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