Sales of existing
Economists surveyed by Bloomberg News had expected February 2008 existing home sales to decline 1.0%. The January 2008 existing homes sales statistic was revised higher to an increase of 0.3%.
Regionally, February 2008 existing home sales fell 9.8% in the West, 5.5% in the South, and 3.7% in the Midwest. Sales rose 3.2% in the Northeast.
Meanwhile, the aggregate U.S. existing-home price will probably decline by 1.4% to a median of $215,800 for all of 2008 before rising 3.7% to $223,800 next year, the NAR said.
The existing home sales statistic is considered a lead economic indicator because the metric tracks actual signings for the month reported, in this case, February 2008.
Economic Analysis: A sub-par February 2008 existing home sales statistic, but one not entirely inconsistent with the consensus estimate.
Starbucks: The next McDonald's
Wal-Mart's launch of $20 slimming jeans will be a huge success
Why I spent some of my stimulus check on GE
