Existing home sales rose in July; median price hits new high

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Sales of antecedently occupied U.S. homes roseate successful July for the 2nd period successful a row, though they lone accrued modestly from a twelvemonth ago, suggesting the red-hot lodging marketplace whitethorn beryllium cooling disconnected a little.  The National Association of Realtors said Monday that existing homes income roseate 2% past period from June to a seasonally-adjusted yearly complaint of 5.99 cardinal units. Sales roseate lone 1.5% from July past year. The median U.S. location terms climbed 17.8% from a twelvemonth agone to $359,900, an all-time high. At the extremity of July, the inventory of unsold homes stood astatine 1.32 cardinal homes for sale, up 7.3% from the anterior month, but down 12% from July past year. At the existent income pace, that amounts to a 2.6-month supply, the NAR said.

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