Strengthening Sales
07/23/2014 | | distressed sales, econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, existing home sales, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, housing sales, MLS, mortgage banking, Multiple listing service, politics and economics, Public speaking economist, www.econ70.com
While existing home sales fell 2.3% in 6/14 to 5.04 million from 5.16 million a year earlier, don’t worry. Sales are at their highest level in eight months, and more importantly distressed sales are down from 15% of all sales in 6/13 to 11% of sales in 6/14. As a result, the number of non-distressed sales are up Y-o-Y from 4.39 million to 4.49 million. Inventories are also up!