**MNI 5 THINGS: Home Resales Up 1.4% m/m, Down 5.1% y/y

--5 Things We Learned From The Existing Home Sales Data

By Kevin Kastner, Shikha Dave, and Harrison Clarke

     WASHINGTON (MNI) - The following are the key points from the October

existing home sales data released Wednesday by the National Association of

Realtors:

     - October existing home sales rose 1.4% to 5.22M vs 5.18M expected, while

September was unrevised from 5.15M.

     - October resales in Northeast were up 1.5%, 1.9% in the South, and up 2.8%

in the West. Sales were down 0.8% in the Midwest. Despite the month/month rise,

sales in the West are still down 11.2% year over year.

     - October home supply fell 1.6% to 1.85m, but were up 2.8% year/year,

allowing the months supply to fall to 4.3 months from 4.4 months in September

and 3.9 months a year ago.

     - NAR's Chief Economist Lawrence Yun said "Gains in the Northeast, South

and West... helped overall sales activity rise for the first time since March

2018."

     - The national median sales price rose 3.8% y/y to $255,400 in October.

--MNI Washington Bureau; +1 (973) 494-2611; email: harrison.clarke@marketnews.com

[TOPICS: MAUDR$,MAUDS$,M$U$$$]