- by New Deal democrat
Existing home sales for December were reported this morning at 6.76 million annualized, just below the October 10 Year+ high of 6.86 million.
Although existing home sales are about 90% of the entire housing market, they are less important economically than new housing construction, which has multiplier effects which last 12-24 months.
But right now both existing home sales and new home construction are telling the same story: a market that is turning in its best performance since before the Great Recession. I have updated my detailed look at this very important long leading sector in an article over at Seeking Alpha.
Clicking over and reading will bring you thoroughly up to date about this crucial sector, and reward me a little bit for my work.