Sales of existing homes in the United States in October 6.34 million against 6.18 million expected

US home sales data for October

  • Before was 6.29 m
  • + 0.8% m / m vs + 7.0% previously
  • 2.4 months supply vs. 2.4 months before
  • Median price $ 353,900 vs. $ 352,800 previously
  • Median prices + 13.1% vs + 13.3% y / y previous
The housing market remains hot. We have underlined in advance the case for an upside surprise in this data point.

It’s not a big driver of the market, but there is a consensus that US real estate will flatten or even reverse. I don’t think it will. I believe we are in the early stages of a multi-year bull market, it is US residential real estate that will keep consumers afloat and commodity prices high.

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