The Existing-Home Sales data measures sales and prices of existing single-family homes for the nation overall, and gives breakdowns for the West, Midwest, South, and Northeast regions of the country. These figures include condos and co-ops, in addition to single-family homes.
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Declining due to lack of housing inventory. Total existing home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 3.2% in January to a seasonally adjusted annual rate of 5.38 million, down from a downwardly revised 5.56 million in December.
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Economists polled by Reuters had forecast existing home. 5.5 million sales per year, well below the 6 million or more we might otherwise expect to see,” said Aaron Terrazas, senior economist at.
The median forecast in a Bloomberg survey called for a gain to 5.2 million. Prices picked up as inventories eased. For all of 2015, sales climbed to 5.26 million from 4.94 million. The December sales rebound was driven by industry adjustments to new mortgage regulations that had delayed closings a month earlier.
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It will be another month or two before we know the final existing home sales tally for 2018, but the current annualized run rate for sales is 5.38 million. With higher mortgage rates expected at some point in the coming year and prices still firming a bit, we think it will be hard for sales to improve much for the year as a whole.
Existing-home sales rose from the prior month to an annual rate of 5.22 million, the National Association of Realtors said. While that narrowly exceeded economists’ projections for sales of 5.2.
The Federal Reserve will probably ease monetary. he said. Existing-home sales plummeted to a 3.83 million annual pace, the lowest in a decade of record-keeping and worse than the most pessimistic.
"To put it in perspective, there were 37 million more people in the U.S. last year compared to 2000, yet existing-home sales that year were higher (5.2 million) than last year (4.9 million)."
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Sales of town homes, condos, co-ops and single-family houses, rose 1.9 percent to an annual rate of 5.3 million units after seasonal adjustment. Economists had forecast a slight decrease to 5.2 million.
Existing-home sales in the single-family space came in at 4.99 million in March, a 0.6 percent increase from 4.96 million in February, but a 1 percent decrease from 5.04 million the prior year.
Former Fannie exec to lead Flagstar lending unit Flagstar is the nation’s fifth largest bank mortgage originator. Prior to Flagstar, Fercho spent 15 years with Fannie Mae, ultimately serving as senior vice president, customer delivery executive, responsible for the end-to-end strategy and business performance of all single-family customers in the western United States, representing an.