Existing-home sales ease more than forecast to 5.2 million

US existing home sales rise for second month – news.yahoo.com – Sales increased everywhere except in the fire-stricken West, where buying sentiment has weakened amid tight supply. 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.

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New-home sales unexpectedly jump to highest level since 2007 Sales of previously owned U.S. homes unexpectedly climbed in October to the highest level since February 2007, a sign of momentum in the housing market a month before a jump in borrowing costs,

Somewhat more supply and still modest demand will tend to have a damping effect on price increases. 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.

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House prices are forecast to rise at more than double the rate of inflation this year, by 5.2 percent, followed by. In the meantime, existing home sales are forecast to run at a 5.55 million.

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Previously-owned home sales surge more than forecast .. The median forecast in a Bloomberg survey called for a gain to 5.2 million. Prices picked up as inventories eased.. Existing-home.

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Existing-home sales in the South decreased 2.2 percent to an annual rate of 2.25 million in June, but are still 0.4 percent higher than a year ago. The median price in the South was $237,500 , up.