Comments on June Existing Home Sales

Earlier: NAR: Existing-Home Sales Increased to 4.72 million in June A few key points: 1) Existing home sales are counted at the close of escrow, so the June report was mostly for contracts signed in April and May.  Some of the increase this month was probably related to pent up demand from the shutdowns in March and April.   I expect a further increase in sales in July (July will be mostly contracts signed in May and June when the economy was much more open).   However, with the high unemployment rate - and the recent surge in COVID infections,......(read more)

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