US Existing Home Sales (w/ graph and raw numbers)

"The apple does not fall far from the tree." 

My friend Dolores would jokingly tell me in describing how great her daughter is. 

It's the same way with the Real estate market.  What's happening in our country's real estate market has a significant effect with how our local markets would behave. 

Even in the stock market, wise investors know that when the general market is in a storm then it's probably a good idea to look for safety until it subsides.

Why follow existing home sales? Home sales reflects one of the most accurate ways to gauge market conditions.

Here's what's happening in our Country's real estate market:

Existing Home Sales--U.S

• October 2007:  5,060,000 homes

• November 2007:  5,020,000 homes

• December 2007:  4,910,000 homes

• January 2008:  4,890,000 homes

• February 2008:  4,950,000 homes

• March 2008:  4,920,000 homes

• April 2008:  4,850,000 homes

• May 2008:  4,950,000 homes

• June 2008:  4,900,000 homes

• July 2008: 4,990,000 homes

• August 2008:  4,930,000 homes

• September 2008:  5,100,000 homes

• October 2008:  4,940,000 homes

• November 2008:  4,540,000 homes

• December 2008:  4,740,000 homes

• January 2009: 4490000 homes

• February 2009:  4710000 homes

• March 2009:  4570000 homes

Graph:

(click image to enlarge)

Notes:

• VS Last month (Feb): -3%

• VS Last month (Nov): 6.5%

• VS Last month (Oct vs Sept): -3.1%

• VS Last Year (Oct 07 vs Oct 08):  -1.6%

• I agree with what Briefing.com said, "October existing home sales fell,but the 4.98 million level is not all that bad.  It is above the June and August rates.

• "Foreclosures are boosting sales in some areas, but that reflects demand and should not be discounted."

Updated: May 19,2009

Number of updates: 3'rd
Source: Realtor.org