Existing home sales beat 'The Street'

Source: Calculated Risk
The NAR reports: October Existing-Home Sales Rise, Unsold Inventory Continues to Decline


Total existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 1.4 percent to a seasonally adjusted annual rate of 4.97 million in October from a downwardly revised 4.90 million in September, and are 13.5 percent above the 4.38 million unit level in October 2010.

Sales in October 2011 (4.97 million SAAR) were 1.4% higher than last month, and were 13.5% above the October 2010 rate. According to the NAR, inventory decreased to 3.33 million in October from 3.41 million in September.

Inventory decreased 13.8% year-over-year in October from October 2010. This is the ninth consecutive month with a YoY decrease in inventory.

Months of supply decreased to 8.0 months in October, down from 8.3 months in September. This is still higher than normal. These sales numbers were just above the consensus.

URL to original article: http://www.builderonline.com/builder-pulse/existing-home-sales-beat-the-street.aspx?cid=BP:112111:JUMP

For further information on Fresno Real Estate check: http://www.londonproperties.com