Sales Of Existing Homes In U.S. Rose 7.6% In August
(For August 2010)
Sales of existing homes in U.S. rose 7.6% to 4.13 million units SAAR. Consensus was at 4.1 million.
Chart 1. U.S. Existing Home Sales
Source: NAR
Total housing inventory is unchanged from July at 4.0 million units. Months supply fell from 12.5 to 11.6 months.
Chart 2. U.S. Existing Home Sales Inventory & U.S. Existing Home Sales Months Supply SAAR
Source: NAR
Existing home sales in July were depressed by first home-buyer tax credit program expiration. Bounce after that seems quite weak. Moths of supply still mighty high.
Existing Home Sales, Existing Home Sales Inventory, Existing Home Sales Months Supply