The Surprising Impact of Rising Rates on Market Potential, According to First American Potential Homes Model

Potential existing-home sales increased to a 5.99 million seasonally adjusted annualized rate (SAAR), a 0.7 percent month-over-month decrease. This represents a 60.6 percent increase from the market potential low point reached in February 2011.The market potential for existing-home sales increased by 1.9 percent compared with a year ago, a gain of 114,000 (SAAR) sales. Currently, potential existing-home sales is 1.29 million (SAAR), or 17.7 percent below the pre-recession peak of market potential, which occurred in July 2005.

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Source: Citizen Tribune