Strengthening Sales
07/23/2014 | | Economic forecasting, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, Graphsandlaughs, MLS, Multiple listing service, Public speaking economist, distressed sales, econ70, economist on TV, economist on radio, eisenberg and economics, existing home sales, funniest economist, funny housing economist, graphsandlaughs and eisenberg, housing sales, mortgage banking, politics and economics, 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!