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Existing Home Sales Cooling Off This Summer

Casey O'Neal

After 33 years in the real estate business I have learned that educating a client and building trust is the best way to overcome fears and apprehensio...

After 33 years in the real estate business I have learned that educating a client and building trust is the best way to overcome fears and apprehensio...

Oct 29 1 minutes read


Some Highlights:

  • According to the National Association of Realtors’ latest Existing Home Sales Report, sales in June were down 2.2% from last year.
  • Inventory of homes for sale showed a modest improvement of 0.5% over last year’s figures, but still remains under the 6-month supply needed for a normal market.
  • NAR’s Chief Economist Lawrence Yun had this to say: “There continues to be a mismatch since the spring between the growing level of homebuyer demand in most of the country in relation to the actual pace of home sales, which are declining. The root cause is without a doubt the severe housing shortage that is not releasing its grip on the nation’s housing market.”
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