Monday, 23 September 2019 12:53 GMT

Improvement in July for U.S. Existing Home Sales

(MENAFN - Re-sales of homes in the United States beat analyst predictions last month. Information released Wednesday by the National Association of Realtors revealed sales of previously-owned homes edged up 2.5% in July, as mortgage rates offset the affordability crunch caused by high home prices at the margins.
Existing home sales occurred at a 5.42 million seasonally-adjusted annual pace, up from a revised 5.29 million in June. Compared with a year ago, sales were 0.6% higher. Economists had expected an average annual rate of 5.40 million.
Moreover, NAR said, the median sales price increased 4.3% from the prior-year to $280,800. While the rate of home price appreciations has slowed considerably this year, prices continue to rise thanks largely to the constrained inventory of homes for sale.


Improvement in July for U.S. Existing Home Sales


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