Low Rates “Nudged” Existing Home Buyers NAR says

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Posted To: MND NewsWire

Existing home sales returned to an upward track in July after dipping 1.7 percent in June. The National Association of Realtors® (NAR) said pre-owned single-family homes, townhomes, condominiums, and cooperative apartments sold at a seasonally adjusted annual rate of 5.42 million units during the month, a 2.5 percent increase from the 5.270-million-unit rate in June. The July sales were 0.6 percent higher than the 5.39 million pace set in July 2018, the first time this year that 2019 sales exceeded those a year earlier. Sales were toward the high end of the range of estimates from analysts polled by Econoday , 5.25 million to 5.50 million and beat the consensus estimate of 5.39 million units. Single-family homes sold at a seasonally adjusted rate of 4.84 million, a 2.8 percent increase…(read more)

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