April existing home sales slipped again year-on-year due to lack of supply

Total existing-home sales decreased 2.5 percent to a seasonally adjusted annual rate of 5.46 million in April from 5.60 million in March. With last month's decline, sales are now 1.4 percent below a year ago and have fallen year-over-year for two straight months.

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February existing home sales rebound 3.0 percent from January, up 1.1 percent year-on-year

Despite consistently low inventory levels and faster price growth, existing-home sales bounced back in February after two straight months of declines, rising 3.0 percent from January.  Sales were also up 1.1 percent year-on-year.

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June existing home sales drop 1.8 percent, largely due to lack of supply

Total existing-home sales decreased 1.8 percent to a seasonally adjusted annual rate of 5.52 million in June from 5.62 million in May. Despite last month's decline, June's sales pace is 0.7 percent above a year ago, but is the second lowest of 2017.

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BuilderBytes' MetroIntelligence Economic Update for 11/23/2011

Please click here to see the edition of BuilderBytes for 11/23/2011 on the Web. Because of the Thanksgiving holiday, for this issue it's being published on Wednesday instead of Thursday.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• October sales of existing homes rise, unsold inventory continues to decline
• Third quarter 2011 GDP revised from 2.5% to 2.05%
• Additional easing discussed at last federal reserve meeting
  

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