» Existing Homes: Big-time Inventory Revision Decision Economics

Existing Homes: Big-time Inventory Revision

Posted November 19, 2012 by rvillareal

October existing home sales were modestly firmer than expected, rising 2.1% (Consensus: unch; Decision Economics: -2.3%), but from a prior-month level revised down by 1.3%.  Though net progress was slight, the effect was to put the level of sales within 0.8% of the August recent peak–the highest level touched since the homebuyer-tax-credit episodes of 2009 and 2010, and, before that, since mid 2007.

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