U.S. Existing Homes Sales Rose 12.3% In December

(For December 2010)

Sales of existing homes in U.S. rose 12.3% to 5.28 million units SAAR. Consensus was at 4.87 million.

Chart 1. U.S. Existing Home Sales

Total housing inventory is at 3.6 million units down from 3.7 million in November. Months supply fell from 9.5 to 8.1 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 is recovering.

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This entry was posted on Friday, January 21st, 2011 at 5:01 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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