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Wednesday, March 22, 2017

February US existing home sales 5.48 vs 5.55m expected

  • Prior was 5.69m
  • Prices -3.7% m/m vs -2.5% expected
  • Estimates ranged from 5.30m to 5.80m
  • Inventory at 3.8 months vs 3.8 prior
  • 7% distressed, unchanged from prior
  • Prices up 7.7% y/y vs 7.1% prior
Sales cooled off slightly from a 10-year high. Inventories remain tight and prices are rising. Housing remains a significant upside rise for the US economy.
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