NAR: Existing-Home Sales to Post “Strong Rebound”

The stock market opened down a bit this morning but is now in positive territory. The Nasdaq is hovering right at 10,000.

This morning’s existing-home sales report showed a drop of 9.7% for May. The good news is that the National Association of Realtors expects a “strong rebound” in the coming months. There’s also been more talk of a surge in coronavirus cases, but for now, the markets don’t seem too worried.

On our Buy List, Sherwin-Williams (SHW) increased its sales guidance for the second quarter.

The Company now expects second quarter 2020 consolidated net sales to decrease by a mid-single-digit percentage compared to the second quarter of 2019. The Company’s prior guidance, issued April 29, 2020, was for second quarter 2020 consolidated net sales to decrease by a low to mid-teens percentage compared to the second quarter of 2019.

Posted by on June 22nd, 2020 at 11:24 am


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