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The NAR is scheduled to release Existing Home Sales for July at 10:00 AM tomorrow (Wednesday, Aug 20th).The consensus is for 5.39 million SAAR, up from 5.27 million in June. Housing economist Tom Lawler estimates the NAR will report sales of 5.40 million SAAR and that inventory will be down 1.6% year-over-year. Based on Lawler's estimate, I expect existing home sales to be close to the consensus.Housing economist Tom Lawler has been sending me his predictions of what the NAR will report for over 9 years. The table below shows the consensus for each... -Calculated Risk
From Pacific Union chief economist Selma Hepp: How are lower interest rates impacting Los Angeles housing markets? After a large dip in housing market activity starting in the last quarter of 2018 and first quarter of 2019, housing markets in recent months have mostly bounced back to where they were last summer. The number of home sales trends about the same, home prices have recovered to again show annual increases, inventories are scarce, and absorption rates have returned to the same rates. ...Home sales activity picked up speed in July, after some... -Calculated Risk
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. President Donald Trump said on Sunday that he did not want the U.S. to do business with China's Huawei even as the administration weighs whether to extend a grace period for the company, according to Reuters. He said there were small parts of Huawei's business that could be exempted from a broader ban, but that it would be "very complicated." This follows earlier reports saying that the Trump administration was preparing to extend the length of a license that has enabled... -The Fly
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