Whoops! Existing Home Sales Drop Well Below Forecast

investmentresearchdynamics.com / By David Kranzler / December 22, 2014

Of course, this was not unexpected for anyone who reads my work…

The seasonally manipulated adjusted rate fell to 4.93 million – well below the expected rate of 5.2 million. Note: this is a statistically calculated annualized rate and bears no resemblance to the actual sales rate. As we know from an earlier post, SoCal home sales in November plunged 19%.  Inventory is climbing quickly, which is consistent with all of the new “for sale” and “for rent” listings all over the metro-Denver area.

More later, but suffice it so say that my homebuilder short-sell reports are very ripe and ready: Homebuilder Reports.

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