House Prices: Rust or Bust?
It is possible the Median House Price will be Down YoY in February
Back in 2005, a real estate agent asked me if I thought house prices would “rust or bust”. My answer in 2005 was “bust”!
On Friday, I posted housing economist Tom Lawler’s early read on February existing home sales. Lawler projects that the NAR will report sales of 4.51 million on a Seasonally Adjusted Annual Rate (SAAR) basis, well above the consensus forecast of 4.15 million SAAR. The NAR reports tomorrow; take the over!
Let me add a little color on February existing home sales and prices.
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