Mortgage News Daily reports Existing Home Sales Break Free From Losing Streak, Posting October Gains.

Existing home sales broke their extended losing streak in October, increasing 1.4 percent from September to a seasonally adjusted annual rate of 5.22 million completed sales. It was the first positive report on sales of existing single-family homes, condos, townhouses, and co-op apartments since last March. The National Association of Realtors® (NAR) said the gain was not enough however to return existing home sales activity to 2017 levels. They lag the 5.5 million transactions last October by 5.1 percent.

After overshooting the mark with their last six forecasts, analysts polled by Econoday were more restrained and consequently quite accurate in their expectations for October. Their predictions were in the range of 5.10 to 5.35 million units with a consensus of 5.20 million.

By Region


  • In the Northeast existing home sales gained 1.5 percent to an annual rate of 690,000, 6.8 percent below a year ago. The median price in the Northeast was $280,900, which is 3.0 percent higher than last October.
  • In the Midwest, existing-home sales declined 0.8 percent from last month and 3.1 percent on an annual basis to 1.27 million in October. The median price in the Midwest was $197,000, a 2.4 percent annual gain.
  • Existing-home sales in the South rose 1.9 percent to an annual of 2.15 million units, a 2.3 percent annual decline. The region's median price increased 3.8 percent to $221,600.
  • Sales in the West grew 2.8 percent to an annual rate of 1.11 million but were down 11.2 percent from the previous October. Prices increased a median of 1.9 percent to $382,900.

Mike "Mish" Shedlock

Existing Home Sales Rise First Time Since May: Hurricane Impacts Abate, NAR Begs for Subsidies

Existing home sales rose 0.7 percent, the first increase since May. The NAR reported 5.39 million sales at a seasonally adjusted annualized rate (SAAR) topping the Econoday consensus estimate of 5.30 million sales.

Existing Home Sales Decline Third Month Despite Rising Inventory

Existing home sales declined for the third month, fourth year-over-year. May sales were revised lower.

Existing Home Sales Rise 1.1% But Activity Below Year Ago

Existing-home sales grew in March but sales still lag yearly.

Existing Home Sales Decline Fourth Month

Economists missed the boat again this month expecting a small rebound in existing home sales. Instead, sales fell 0.7%.

Existing Home Sales Drop 6th Consecutive Month

Existing home sales declined 3.4% in September. This was the 6th month and the 5th month below the consensus estimate.

Existing Home Sales Flat Following Four-Month Decline

"It was a disappointment, but at least it wasn't a loss. Existing home sales were expected to increase in August."

Housing Peak? Existing Home Sales Drop 2.5%, Down Year-Over-Year Second Month

It's looking increasingly likely that housing has peaked this cycle. Year-over-year sales are down the second month,

Existing Home Sales Top Consensus

Existing home sales came in at 5.34M, seasonally adjusted annualize, topping the consensus estimate of 5.28M.

Existing Home Sales Unexpectedly Decline

Existing homes sales fell 0.4% in April. The Consensus expected a rise.