Sales of previously owned houses in the US rose 1.4 percent to a seasonally adjusted annual rate of 5.22 million in October 2018, following a 3.4 percent drop in September and beating market expectations of a 1 percent increase. Single family home sales advanced 0.9 percent to 4.62 million (vs -3.4 percent in September) and sales of condos went up 5.3 percent to 0.6 million (vs -3.4 percent in September). The median house price fell to $255,400 from $256,900 in September but increased from $246,000 a year earlier. The months' worth of supply edged down to 4.3 from 4.4. Year-on-year, existing home sales dropped 5.1 percent, the sharpest fall since July 2014. Existing Home Sales in the United States averaged 3944.30 Thousand from 1968 until 2018, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970.
Existing Home Sales in the United States is expected to be 5600.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Existing Home Sales in the United States to stand at 5251.07 in 12 months time. In the long-term, the United States Existing Home Sales is projected to trend around 5000.00 Thousand in 2020, according to our econometric models.