The National Association of Realtors (NAR) said on Tuesday that existing home sales in the United States fell 2.2% in July. To a seasonally adjusted annual pace of 4.07 million. This reading followed a 3.3% decline in June.
“The median sales price increased 1.9% year on year to $406,700.” The monthly median sales price surpassed $400,000 for the fourth time. Joining June 2023 ($410,000), June 2022 ($413,800). And May 2022 ($408,600),” according to the NAR in a news release. “At the end of July, the inventory of unsold existing homes increased 3.7% from the previous month to 1.11 million, or the equivalent of 3.3 months.”
Existing Home sales reaction on market
The US Dollar maintains its strength in the aftermath of this announcement, with the US Dollar Index last seen up 0.3% on the day at 103.60.
