News & Opinions
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Jonathan Smoke / Metrostudy / May 22, 2014
With all of the misdirected hand-wringing over the alleged stalling of the housing rebound in 2014, you would have thought that economists and analysts would have expected another slight decline in existing home sales to be reported by the National Association of Realtors (NAR) this morning. But, instead they were expecting a 2 percent increase to an annualized rate of 4.69 million from the 4.59 million initially reported in March. The actual report from NAR set the initial April reading at 4.65 million, an increase of 1.3 percent from the unrevised March rate of 4.59 million.
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