Published: 2025-01-13T15:11:50.000Z
Preview: Due January 24 - U.S. December Existing Home Sales - Pending home sales suggest another rise
Senior Economist , North America
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Strength in pending home sales, reaching their highest level since February 2023 in November, suggests a rise in December existing home sales, we expect by 3.6% to 4.30m, which would be the highest level since February 2024.
Other housing sector surveys have not been as strong as pending home sales, but few signs of weakness were seen in December data, though we do see downside risk in January given rising UST yields and fading Fed easing expectations. Pending home sales are designed to predict existing home sales.
We expect the median existing home sales price to show a seasonal decline on the month, but yr/yr data is likely to pick up, to 5.7% from 4.7%, reaching its strongest pace since October 2022.
