Sales of previously owned houses in the US slumped 6.4 percent to a seasonally adjusted annual rate of 4.99 million in December of 2018, following an upwardly revised 2.1 percent increase in November and worse than market expectations of a 1 percent fall. It is the lowest reading since November of 2015. Single family home sales dropped 5.5 percent to 4.45 million (vs +1.9 percent in November) and sales of condos plunged 12.9 percent to 0.54 million (vs +3.3 percent). The median house price fell to $253,600 from $257,300 in November and $246,500 a year earlier. The months' worth of supply went down to 3.7 from 3.9. Year-on-year, existing home sales dropped 10.3 percent. Considering full 2018, existing home sales declined 3.1 percent to 5.34 million, the worst since 2015. Existing Home Sales in the United States averaged 3948.27 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 5500.00 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 5300.00 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.