Sales Of Existing Homes In U.S. Fell 27.2% In July

Sales of existing homes in U.S. fell 27.2% to 3.83 million units SAAR; the lowest reading since 1996. Consensus was at 4.65 million.

Total housing inventory is at 4.0 million units vs. 3.9 million units in June. Months supply rose from 8.9 to 12.5 months; all-time high.

Chart 1. U.S. Existing Home Sales

Source: NAR

Chart 2. U.S. Existing Home Sales Inventory & U.S. Existing Home Sales Months Supply SAAR

Source: NAR

, ,

This entry was posted on Tuesday, August 24th, 2010 at 8:14 am and is filed under U.S. Housing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.


Get Adobe Flash player