Heterodox
A note on existing home sales Existing home sales are the least noteworthy of the housing data, because of the very limited economic activity moving into or out of an existing home provokes compared with the construction, furnishing, and landscaping of a new home. But it’s worth a brief look, so let’s note this month’s report. Existing home sales (blue in the graph below) are only up 1.7% compared with one year ago, as opposed to new...
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