Posted on 07/22/2013 10:11:17 AM PDT by whitedog57
According to the NAR, total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, dipped 1.2 percent to a seasonally adjusted annual rate of 5.08 million in June from a downwardly revised 5.14 million in May, but are 15.2 percent higher than the 4.41 million-unit level in June 2012.
Total housing inventory at the end of June rose 1.9 percent to 2.19 million existing homes available for sale, which represents a 5.2-month supply at the current sales pace, up from 5.0 months in May. Listed inventory remains 7.6 percent below a year ago, when there was a 6.4-month supply.
ehs072213
So, existing home sales are back to 1999-2001 levels, but have been accelerating since 2010.
hs1unit0717
Like housing starts which are back to 1982 levels, existing home sales are going back in time.
ehsnhs072113
Let’s see what happens to mortgage rates.
mbapurchase071713
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