U.S. Existing Homes Sales Rose 5.6% In November

(For November 2010)

Sales of existing homes in U.S. rose 5.6% to 4.68 million units SAAR. Consensus was at 4.75 million.

Chart 1. U.S. Existing Home Sales

Total housing inventory is at 3.7 million units down from 3.9 million in October. Months supply fell from 10.5 to 9.5 months.

Chart 2. U.S. Existing Home Sales Inventory & U.S. Existing Home Sales Months Supply SAAR

The million dollar question here is the size of shadow inventory. Looking only at this data one could conclude that U.S. housing could start to recover.

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This entry was posted on Wednesday, December 22nd, 2010 at 9:44 am and is filed under U.S. Economic Data, U.S. Housing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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