Existing Home Sales Report Shows Highest New Home Inventory Since January 2012

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The National Association of REALTORS reported that existing home sales for July came in at 5.39 million on a seasonally adjusted annual basis. July's reading exceeded both expectations of 5.21 million existing homes sold and June's reading of 5.06 million homes sold. This suggests good news for home buyers who've been constrained by limited supplies of homes for sale. As home prices continue increasing in many areas, more homeowners are likely to list their homes for sale. Existing home sales for July rose by 6.80 percent year-over-year. The Federal Housing Finance Agency Home Price Index reported a 7.70 percent year…
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Existing Home Sales: Second Highest Level Since 2009

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According to the National Association of REALTORS®, national sales of existing homes in June came in at 5.08 million. June's reading was reported to be the second highest since November of 2009; this should calm concerns about a lapsing recovery in housing markets. Summer typically produces the highest prices for existing homes sold, as families seeking larger homes frequently move during summer months. The June inventory of existing homes improved by 1.90 percent to 2.19 million homes or a 5.20 month supply. June's number of available homes was 7.60 percent lower than in June 2012. The shortage of available homes…
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