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MNI BRIEF: US Existing Home Sales Grew 1.3% To 3.95M In July

USPolicy NewsCentral Bank NewsHomepageFederal ReserveBriefStoryRegionNorth America

U.S. sales of existing homes in July stopped a four-month sales decline in July and grew 1.3% to a seasonally adjusted annual rate of 3.95 million, the National Association of Realtors said Thursday, above expectations. Sales year-over-year are still down 2.5%.

The national median home price was up 4.2% over the last year to USD422,600, the 13th straight month of year-over-year price gains. The inventory of unsold existing homes rose 0.8% from the previous month to 1.33 million at the end of July, the equivalent of 4.0 months of supply.

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U.S. sales of existing homes in July stopped a four-month sales decline in July and grew 1.3% to a seasonally adjusted annual rate of 3.95 million, the National Association of Realtors said Thursday, above expectations. Sales year-over-year are still down 2.5%.

The national median home price was up 4.2% over the last year to USD422,600, the 13th straight month of year-over-year price gains. The inventory of unsold existing homes rose 0.8% from the previous month to 1.33 million at the end of July, the equivalent of 4.0 months of supply.

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