Reported 3 days ago
In July, US existing home sales unexpectedly rose by 2.0% to an annual rate of 4.01 million units, despite ongoing affordability challenges due to high prices and interest rates. The National Association of Realtors highlighted some improvement in housing affordability, with wage growth outpacing home price increases, contributing to rising sales in several regions. However, the overall pace remains sluggish, and year-over-year median home prices saw a modest increase, while inventories rose slightly.
Source: YAHOO