The 14% downward revision to the number of existing home sales since 2007 confirms that the housing crash has been deeper than originally thought. But this is old news. Much more important is that the increase in sales in more recent months, including a 4% m/m gain in November, suggests that housing has passed the worst.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.