The National Association of Realtors is reporting that existing home sales were up 2% in July to a seasonally-adjusted annual rate of 5.99 million (up 1.5% from one year ago). Total housing inventory at the end of July was 1.32 million units, up 7.3% 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 $359,900, up 17.8% from July, 2020.
Click here to read the full release at the National Association of Realtors.
