Given the plunge in the pending home sales index in December, the 1.3% m/m drop in existing home sales in January was smaller than we had expected. But that implies sales will see a more substantial fall in February. Beyond that, with the inventory of homes for sale declining for the fourth consecutive month to another record low, sales will do more than hold their ground this year.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.