Sales of previously owned houses in the US fell 1.2 percent to a seasonally adjusted annual rate of 4.94 million in January of 2019 from an upwardly revised 5 million in December. It is a new-low reading since November of 2015 and compares with market expectations of 5 million. Sales of single family home sales dropped 1.8 percent to 4.37 million (vs -3.9 percent in December) while sales of condos rose 3.6 percent to 0.57 million (vs -5.2 percent). The median house price fell to $247,500 from $254,700 in December but rose from $240,800 a year earlier. The months' worth of supply went up to 3.9 from 3.7. Year-on-year, existing home sales dropped 8.5 percent. Existing Home Sales in the United States averaged 3949.67 Thousand from 1968 until 2019, 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 5500.00 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 5300.00 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.