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Existing Home Sales Up 1.4% in June

The National Association of Realtors is reporting that existing home sales were up 1.4% in June to a seasonally-adjusted annual rate of 5.86 million (up 22.9% from one year ago). Total housing inventory at the end of June was 1.25 million units, down 18.8% from one year ago. Unsold inventory sits at a 2.6-month supply at the current sales pace with properties remaining on the market for around 17 days. The median existing-home price for all housing types was $363,300, up 23.4% from June, 2020. They do point out that supply has modestly improved in recent months due to more housing starts and new listings. Continue reading HERE...

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