US existing home sales from the National Association of Realtors
– Prior was 5.61m (revised to 5.65m)
– 3.6 month of inventories from 4.0 months
– Avg house prices +4% year-over-year
Inventories fell hard and that could be a precursor to price rises in 2017. One of my big beliefs for this year is that house prices in the US will accelerate far more than the consensus expects.
