P. Kalven

Existing Home Sales Look for a New Bottom

It is at this stage of events important to keep an eye on the volume of sales, as price will be driven by regional concern and as important as it is to the individual home owner, irrelevant to what the industry as a whole is doing.

The other metric to watch is the absorption projection at the current level of consumption.

As these two numbers expand and contract in respect to one another it will indicate the direction and "health" of the market of the day.