April Existing home sales rose 1.7% to a seasonally adjusted annualized rate (SAAR) of 5.45 million. Existing home sales have been hovering at late 90's levels - with only the housing boom seeing higher levels of existing home sales.
Existing home sales have less effect on economic growth than new home constructions, but it is nice to see "normal" levels of activity in one part of the housing market.
Kevin Spires, CFA, FRM
Kevin Spires, CFA, FRM
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