Existing Home Sales Rise 0.6% M/M: Analysis of July Trends

Monday, 19 August 2024, 19:07

Existing home sales rise 0.6% M/M, marking the lowest level for a July since 2012, according to Redfin's latest report. Despite this increase, pending home sales also declined. Mortgage rates are decreasing, yet home prices remain close to record highs, contributing to a challenging market landscape.
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Existing Home Sales Rise 0.6% M/M: Analysis of July Trends

Current Market Conditions

The latest data shows that existing home sales rose 0.6% month-over-month (M/M), highlighting a subtle increase in transactions. However, this uptick comes as the lowest level for July since 2012, creating an interesting juxtaposition of trends.

Pending Sales and Mortgage Rates

Alongside the existing home sales, pending home sales have experienced a drop, reflecting cautious buyer sentiment. Interestingly, mortgage rates are trending downwards, but with home prices lingering near record highs, the market dynamics remain complicated.

Key Takeaways

  • Existing home sales show a slight increase.
  • July levels are the lowest since 2012.
  • Pending sales have declined, indicating market uncertainty.
  • Mortgage rates are down, but prices remain elevated.

For a deeper analysis of the existing home sales trend, keep an eye on further reports from reliable sources.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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