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REK - Existing Home Sales Surged In Fourth Quarter Of 2019
ProShares Short Real Estate
Existing home sales gained strength in the fourth quarter of 2019, with the estimated market capitalization of the existing home market in 49 states for which we have data appearing to have finally surpassed its previous March 2018 peak in November 2019.
State-level data for existing homes sales lags the national data, which reports indicate leapt to their highest level in nearly two years in December 2019. Looking at recent trends for the five largest states for existing home sales, we find uptrends in Texas, Florida, New York and New Jersey, which we find has