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Existing Home Sales Drop 5.9% in July

The National Association of Realtors is reporting that existing home sales were down 5.9% in July to a seasonally-adjusted annual rate of 4.81 million (down 20.2% year over year). Total housing inventory at the end of July was 1,310,000 units, up 4.8% from June and unchanged from one year ago. Unsold inventory sits at a 3.3-month supply at the current sales rate with properties remaining on the market for around 14 days. Continue reading HERE...

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