January 2018 US existing home sales 21 February 2018

  • Prior 5.57m
  • Change of -3.2% vs -2.8% prior
  • Inventories 1.52m or 3.4 months worth vs 1.46m or 3.2 months worth prior
  • Median prices $240,500 vs $246,500 prior y/y

If I’m not mistaken, that’s a first drop in prices for quite sometime. That’s something to keep an eye on as a drop in prices alongside sales could point to trouble.

The second of the main US housing numbers for Jan 2018. Starts and permits came in stronger than expected last week.

Ryan Littlestone
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