Email of the day (1)
Comment of the Day

December 07 2011

Commentary by Eoin Treacy

Email of the day (1)

on the US Existing Home Sales chart:
"The chart for US Existing One Family Home Sales (EHSLSL) does not seem to have updated since the end of March. Is this due to a lag in the data or has it stopped updating?"

Eoin Treacy's view Thank you for highlighting this issue. The Existing One Family Homes Sales Total is supposed to be updated monthly with a 1 month lag. I last looked at this data a couple of months ago and it had not been updated since March. Bloomberg has since updated it to October and this is now reflected in the Chart Library.

In common with house prices, home sales have fallen sharply but have stabilised over the last couple of years. Considering the overhang of supply above the market, from foreclosures and overbuilding, recovery is likely to take time. On the opposite side, affordability is close to record levels which should offer a cushion to significant additional declines.

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