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.

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