Existing Home Sales Rebound in July

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Housing Update: Existing Home Sales

The National Association of Realtors reports that Existing Home Sales for the month of July rose by 2.28% (June: -5.4%).

Sales were reported at an annualized rate of 4.47 million units, which was a smidge below the estimate for a rate of 4.48 million units but above last month’s 4.37 million (May: 4.62 million).

Prices of all homes are up +9.4% on a year-over-year level with the median sales price now at $187,300.

The report also notes that there is a 6.4 month supply of homes on the market vs. 6.6 month supply last month (note that 6 months is considered “normal”)

Other stories on the US Economy to review:

• LEI Above Expectations in July
  
• Philly Fed Index Upticks but is below Zero Again
  
• Housing Starts Down and Building Permits Up in July
  
• Industrial Production, Capacity Utilization Up in July
  
• Empire Manufacturing Dives in August
  
• CPI Remained Flat in July
  
• Retail Sales Rebound in July
  
• PPI Hotter Than Expected in July
  
• NFIB Small Business Optimism Sags
  
• Wholesale Inventories Decline - And Yes, you should Care
  
• Q2 Worker Productivity and Labor Costs Rise
  
• ISM Services Perks Up
  
• Job Growth Improves in July
  
• Factory Orders Miss Mark in June
  
• Challenger Planned Job Cuts Drop in July
  
• ISM Manufacturing Still Sub-50 in July
  
• ADP Employment Report Surprises to Upside in July
  
• Consumer Confidence Perks Up in July, But...
  
• Chicago PMI Headline BTE, But Employment Dives
  
• Personal Income Up, Spending Flat in June
  
• GDP Slows to 1.5% in Q2
  
• Pending Home Sales Down in June
  
• Durable Goods Up on Transportation Orders

 

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