Keeping you up to date on the latest data releases.
- Existing Home Sales
The December report for existing single-family home sales was very positive, for the most part, with sales jumping up 11.8 percent to an annualized pace of 4.64 million units and beating the upper limit of analysts’ consensus range. Strength was shared across all four regions of the U.S., and year-over-year sales growth climbed all the way up from −27.3 percent to −2.5 percent. Months’ supply of existing homes at the current sales pace is its lowest since May, easing down from 9.3 months to 7.8 in December and further off July’s high of 11.9 months. Although sales ended the year on a high note, the average sales pace held for 2010 was the poorest since 1997. The median home price slipped down 0.9 percent over the month to $169,300 but was virtually flat with the year-ago median price in December 2009.