Credit Suisse existing home sales estimates

Analysts at Credit Suisse are calling for an improvement in existing home sales numbers for September.  They are calling for a 5% increase in home sales, but that is less than the analysts consensus of  a 5.9% increase.  Their main reason for coming in below the other analysts has to do with many sales encountering troubles from low appraisals which has made it challenging to obtain mortgages.  They do see supply dropping to 7.7 months from August levels of 8.2 months.  But, this could be skewed because unknown numbers of foreclosures have not been put on the market.  The National Association of Realtors will release their figures on Friday.