Alex Pettee, CFA
Snapping 6-Month Skid, Existing Home Sales Beat Expectations
Consistent with the trends in the starts and permitting data, new and existing home sales data has been generally weak over the last six months following a strong start to 2018. Existing Home Sales stabilized in November, rising to a Seasonally-Adjusted Annualized Rate of 5.32 million, topping estimates of 5.20 million. This was the first month since April that EHS data topped consensus estimates, snapping a six month skid of missed expectations. Despite the beat, existing sa