First American: Potential home sales in June drops 2.5% monthly

Source: Scotsman Guide — 

According to new figures from First American Financial Corp., a seasonally adjusted annualized rate of 5.47 million existing-home sales would represent a “healthy” pace of home sales for June.

Potential home sales according to the company’s Potential Home Sales Model dipped 2.5% month over month and 13.1% year over year. The Potential Home Sales Model is a proprietary metric established by First American that gauges what the healthy level of home sales should be based on economic, demographic and housing market fundamentals.

​