Keeping you up to date on the latest data releases.
- Exisiting Home Sales
Existing single-family home sales fell 4 percent in July from an upwardly revised June to a seasonally-adjusted rate of 4.1 million units sold. Although down for the month, total sales of existing single-family homes are up a substantial 21.5 percent higher than they were this time last year. The median price of homes fell 4.5 percent on a year over year basis to $174,800 in July. Sales prices declined in all five census regions from 1.6 percent in the South to 7.9 percent in the Northeast. While the affordability of housing this year is the most favorable it has been in over thirty years, many creditworthy buyers are still unable to secure traditional bank financing. In addition to high levels of contract failures due to low appraisal values, the market for existing home sales remains sluggish throughout the country.