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Existing Home Sales Down

Existing-Home Sales Fall in July




Existing Home SalesSlowed by frustratingly low inventory levels in many parts of the country, existing-home sales lost momentum in July and decreased year-over-year for the first time since November 2015, according to the National Association of Realtors®.

Total existing-home sales , which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 3.2 percent to a seasonally adjusted annual rate of 5.39 million in July from 5.57 million in June. 

Existing-Home Sales by Housing Type

Single-family home sales decreased 2.0 percent to a seasonally adjusted annual rate of 4.82 million in July from 4.92 million in June, and are now 0.8 percent under the 4.86 million pace a year ago. The median existing single-family home price was $246,000 in July, up 5.4 percent from July 2015.

Existing condominium and co-op sales dropped 12.3 percent to a seasonally adjusted annual rate of 570,000 units in July from 650,000 in June, and are now 8.1 percent below July 2015 (620,000 units). The median existing condo price was $228,400 in July, which is 4.1 percent above a year ago.

Existing-Home Sales by Region

July existing-home sales in the Northeast descended 13.2 percent to an annual rate of 660,000, and are now 5.7 percent below a year ago. The median price in the Northeast was $284,000, which is 3.3 percent above July 2015.

In the Midwest, existing-home sales fell 5.2 percent to an annual rate of 1.28 million in July (unchanged from a year ago). The median price in the Midwest was $194,000, up 5.0 percent from a year ago.

Existing-home sales in the South in July declined 1.8 percent to an annual rate of 2.22 million, and are now 1.8 percent below July 2015. The median price in the South was $214,500, up 6.6 percent from a year ago.

Existing-home sales in the West rose 2.5 percent to an annual rate of 1.23 million in July, but are still 0.8 percent below a year ago. The median price in the West was $346,100, which is 6.4 percent above July 2015.

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New Home Sales Up in July




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National Home Prices Continue to Rise




Data released for the S&P CoreLogic Case-Shiller Indices for May 2016 shows that home prices continued their rise across the country over the last 12 months.
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New Home Sales Up in June




Sales of new single-family houses in June 2016 were at a seasonally adjusted annual rate of 592,000, according to estimates released jointly by the U.S. Census Bureau and the […] Continue Reading…

New Home Sales Down

New Home Sales Down in May




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