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Economy in Brief

U.S. Existing Home Sales Remained High
by Tom Moeller November 23, 2004

Sales of existing single family homes held the high ground with a 0.1% (+5.6% y/y) slip in October to 6.75M. September sales were revised up slightly and Consensus expectations had been for sales of 6.72M.

The figures reflect closings of home sales in earlier months.

Sales fell moderately in most areas of the country except in the South where they rose (+7.4% y/y) to a record high.

The median price of an existing home rose slightly to $187,000 (+8.8% y/y) following three months of decline.

Existing Home Sales (000, AR) Oct Sept Y/Y 2003 2002 2001
Existing Single-Family  6,750  6,760 5.6% 6,098 5,593 5,290
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