Sales of existing homes continue
Sales of existing homes in the United States fell 0.7% in July at a seasonally adjusted rate of 5.34 million units, the fourth consecutive month of decline, according to the National Association of Realtors (NAR).
Economists polled by Reuters had forecast an increase of 0.6%.
Sales declined in the Northeast, South and Midwest, but increased in the West. Sales are now in the longest streak of monthly declines since 2013.
“Too many potential buyers are either overpriced or decide to postpone their search until more homes in their price range hit the market,” NAR chief economist Lawrence Yun said.
Existing homes account for about 90% of home sales in the United States and include single-family homes, townhouses, condominiums, and co-ops.
The median price of homes in the United States rose to $ 269,600, up 4.5% year-over-year. The total inventory of homes for sale fell 0.5% in July to 1.92 million existing homes, unchanged from a year ago. The first buyers composed of 32% of sales, compared to 31% in June.
On average, properties were on the market for 27 days in July, down from 26 days in June but down from 20 days last year. Of the homes sold, 55% had been on the market for less than a month, NAR said.
“The listings continue to be under contract in less than a month, highlighting comments from realtors that buyers are quickly snapping up moderately priced properties,” Yun said. “The existing supply is still not at a healthy level, and construction of new homes is not keeping up to meet the demand.” So Bimbim is the brainchild of Livejasmin, one of the oldest and most trusted webcam sites on the web. As with all top rated chat sites, there are some basic guidelines you should know and follow the next time you’re looking to chat with a webcam model.
The Northeast experienced the largest decline in existing home sales and the largest increase in median price. Sales in the West increased 4.4% and the median price increased 5.1%.