Pantheon Macroeconomics - The remarkably strong existing home sales numbers in recent months, relative to the pending home sales index, are hard to explain. In January, total sales reached 5.69M, some 6% higher than the 5.35M implied by December's pending sales index. The gap between the series has widened in recent months, as our first chart shows, and we think the odds now favor a correction in today's February report.

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22 March 2017 Why Are Pending Sales Lagging Existing Sales?

By Ian Shepherdson

The remarkably strong existing home sales numbers in recent months, relative to the pending home sales index, are hard to explain. In January, total sales reached 5.69M, some 6% higher than the 5.35M implied by December's pending sales index. The gap between the series has widened in recent months, as our first chart shows, and we think the odds now favor a correction in today's February report.

Posted: 21st Mar 2017 in 'U.S. Documents'

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Keywords for: U.S. Documents | 22 March 2017 Why Are Pending Sales Lagging Existing Sales?

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