Wednesday, May 27, 2009
Existing Home Sales
Headline number came in a hair above consensus: 4.68 million annual rate vs. expectations of 4.66 million.
Digging a little deeper:
- Inventory pushing higher, 10.2 months worth of supply. The March print was 9.6 months.
- Considerable revisions to mean sales prices: that February print of 235k was revised to 210k, other less dramatic downward revisions as well.