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EHS | November’s housing market lifted year-over-year but declined monthly, with prices gaining again on ever-tightening inventory levels.

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In August, three of the four major regions of the country saw a rise in existing home sales. As sales rose 2.6%, prices were up thanks in large part to continued inventory shortages.

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Existing home sales fell in June 2019, while prices and inventory levels continued to inch forward. The market is still faced with a significant shortage of existing housing units.

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Easy to spin the data either way: February saw a nice rebound in the US housing market over January, but year-over-year pacing retracted by 1.8%. Median home price and inventory continued to increase.

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Another mixed bag in the housing market for November as existing-home sales and average house prices rose, but inventory remained somewhat mismatched with demand.

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While the housing market inched forward in October, it’s still pacing down year-over-year. Inventory is recovering, albeit painfully slowly.

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A troubled housing market can usually signal a looming contraction of the home improvement industry. Home Depot’s recent results demonstrate strong resilience to this trend.

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ESA@Work | The existing home sales numbers for September aren’t great: pacing is down, interest rates up, inventory up but still lagging, and affordability challenging today’s home shopper.

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Existing home sales in the US remained flat in August versus July, and down 1.5% year-over-year. Median prices continued to increase.