The housing data from the first month or two often set the pace fr the rest of the year. This year, we missed the starting gun because of the Government Shutdown. It is possible that we could receive a larger than expected bounce in the new construction data, the new home sales data, and the existing home sale data. This is a twelve lap race and we are in lap two.
Normally the new home construction for a given month is released first, followed by the existing home sales data and then the new home sales data. This week we receive the January existing home sales data, the December new construction data, and the December New Home Sales data. This column has already published a forecast article for the December data. This article only examines the existing home sales data.