Month-over-Month changes in Existing Home Sales

"The existing home market is indeed getting stronger, but you need to get used to stronger equating to fewer but better sales," Hanley Wood's chief economist, Jonathan Smoke, says with regard to today's report from the National Association of Realtors that sales of existing homes totaled 4.59 million in March, just 0.2% behind February's annualized rate. "However, the volume is not the key number; the most important metrics reveal the composition," Smoke stressed. Read more.