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Existing Home Market Still Caught Between Pre- and Post-Pandemic Levels Of Tightness

US DATA
  • After four negative months, median price growth shifted back into positive territory in July at 1.9% Y/Y.
  • The post-pandemic period has seen prices boosted by a relative lack of supply. This is changing, but latest progress has been very slow.
  • The level of sales in July marked 3.3 months of supply, up strongly from a particularly tight 2.6 in Jul’21 but only marginally higher than the 3.2 of Jul’22 and vs the 4.2 averaged in each July through 2017-19.

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