Charts of the Week
U.S. Existing-Home Sales
Chart of the Week for August 24, 2018 - August 30, 2018
The National Association of Realtors publishes monthly data on the number of existing-home sales in the U.S and four U.S. geographic regions. The data includes condos and co-ops in addition to single family homes, and existing-home sales account for 85-90% of total home sales in the U.S. The chart above shows total existing homes sold over the past year.
Total sales for July 2018 were 5.34 million units, below the consensus estimate of 5.40 million units and the fourth straight month of decline. July 2018 sales were down 1.5% on a year-over-year basis. The median price for an existing single-family home was $269,600, up 4.5% from July 2017. According to NAR, July's price increase marks the 77th straight month of year-over-year gains. Average monthly sales from July 2017 through July 2018 were 5.47 million units, and a total of eight months were below that average for the period. Economists noted the impact of rising interest rates, increased prices, and a shortage of existing home listings as factors in the recent decline.
Posted by: sarah_oz@yahoo.com
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