Comments on July Existing Home Sales

Earlier: NAR: Existing-Home Sales Increased to 5.42 million in July A few key points: 1) Existing home sales were up 0.6% year-over-year (YoY) in July.  This was the first YoY increase since early 2018. 2) Inventory is still low, and was down 1.6% year-over-year (YoY) in July. 3) As usual, housing economist Tom Lawler's forecast was closer (barely this month) to the NAR report than the consensus. See: Lawler: Early Read on Existing Home Sales in July .   The consensus was for sales of 5.39 million SAAR.  Lawler estimated the NAR would report 5.40 million SAAR in......(read more)

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