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Housing Update: Existing Home Sales
The National Association of Realtors reports that Existing Home Sales for the month of June fell by -5.4%.
Sales were reported at an annualized rate of 4.37 million units, which was below the estimate for a rate of 4.58 million units and last month’s 4.62 million.
Prices of all homes are up +7.9% on a year-over-year level with the median sales price now at $189,400.
The report also notes that there is a 6.6 month supply of homes on the market vs. 6.4 month supply last month.
Other stories on the US Economy to review:
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Housing Starts Higher, Permits Lower in June
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Industrial Production Above, Capacity Utilization Below
Expectations
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CPI Shows Inflation Flat in June
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Empire Manufacturing Improves in July
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Retail Sales Disappoint in June
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PPI Up in June
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Import/Export Prices Down in June
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NFIB Small Business Optimism Index Pulls Back Again
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Jobs Report Disappoints Again in June
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ISM Non-Manufacturing Index Disappoints in June
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ADP Employment Surprises to Upside
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Challenger Planned Job Cuts Best in Year
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Factory Orders BTE in May
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Construction Spending Above Consensus in May
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ISM Manufacturing Plunges in June
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Chicago PMI Headline Improves But...
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US GDP Grew at +1.9% Rate in Q1
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Durable Goods Up for First Time in 3 Mos
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Richmond Fed Index Declines for Third Month
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Consumer Confidence Falls Again in June
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Case-Shiller Home Price Index Improves
- Chicago Fed National Activity Index Falls in May
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