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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (23863)	12/29/2004 11:52:43 AM
From: CalculatedRisk	Read Replies (3) \| Respond to of 110194

"Am I missing something?" Yes, you are coming at the number incorrectly. For November there were 530,000 existing homes sold. If you multiply by 12, that would give an annual rate of 6.36 million. Then this is seasonally adjusted (November is historically below the average month for the year) and this gives 6.94 million annual rate. That is how the monthly number is derived - not adding months together. Just another note on existing home sales: these are recorded at the close of escrow - so there is a delay of 45 to 60 days from when a contract is signed to closing. New Home Sales are reported when the contract is signed and typically leads Existing Home Sales.