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Another Post-Crisis Peak for Existing Home Sales

Thursday, August 20, 2015

While first-time buyers fell back, existing home sales scored their third consecutive monthly gain in July.  The National Association of Realtors® (NAR) reports that completed sales of pre-owned single-family homes, townhomes, condominiums, and coops were up 2.0 percent from June to a seasonally adjusted annual rate of 5.59 million units.  June's sales figures were revised down from 5.49 million units to 5.48 million.  Stubbornly low inventory levels and rising prices were blamed in the existing home sales report for a share of first time buyers that was the lowest since January.

 

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