Fast Facts

NAR Home Sales Data Shows Bubble II Still Boiling

Existing Home Sales and Inventory- Click to enlarge

The NAR released it May report on sales of existing housing–what it calls “Pending Home Sales.” The report covers actual sales contracts reached during the previous month. The NAR reports the data both on a seasonally manipulated (SA) basis and also on an actual basis, not seasonally manipulated (NSA). The media focuses on the SA numbers. In so doing this month, their instant “analysis” reached…

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