Sales of previously owned houses in the US rose 1.9 percent to a seasonally adjusted annual rate of 5.32 million in November of 2018, following a 1.4 percent increase in October and beating market expectations of a 0.6 percent fall. Single family home sales advanced 1.9 percent to 4.71 million (vs 0.9 percent in October) and sales of condos went up 1.7 percent to 0.61 million (vs 5.3 percent). The median house price increased to $257,700 from $255,100 in October and $247,200 a year earlier. The months' worth of supply went down to 3.9 from 4.3. Year-on-year, existing home sales dropped 7 percent, the sharpest fall since May of 2011. Existing Home Sales in the United States averaged 3946.55 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.