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The Week Ahead: Gauging Existing Home Sales

The National Association of Realtors (NAR) will publish the data on the sale of existing homes for February, on Wednesday, March 21, at 10 a.m. EST. The monthly data measures sales and prices of existing single-family homes for the nation, and also gives regional breakdowns. These figures include condos and co-ops, in addition to single-family homes.

Existing home sales in January were down 3.2 percent and experienced their largest decline on an annual basis in over three years, according to NAR. The median existing-home price for all housing types in January was $240,500, up 5.8 percent from January 2017 ($227,300) with January’s price increase marking the seventy-first straight month of year-over-year gains.

Total housing inventory at the end of January rose 4.1 percent to 1.52 million existing homes available for sale, but was still 9.5 percent lower than a year ago (1.68 million) and fell year-over-year for 32 consecutive months. Unsold inventory was at a 3.4-month supply at the current sales pace.

Here's what else is happening in The Week Ahead:

  • FOMC Meeting, Tuesday, 9 a.m. EST
  • MBA Mortgage Apps, Wednesday, 7 a.m. EST
  • Fed Chair Press Conference, Wednesday, 2:30 p.m. EST
  • FHFA House Price Index, Thursday, 9 a.m. EST
  • Fed Balance Sheet, Thursday, 4:30 p.m. EST
  • New Home Sales Report, Friday, 10 a.m. EST

About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
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