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MARKET BEATS 11
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Housing Market Trend Looks “Despite the modest gain, home sales are still sluggish,”

Improving said NAR Chief Economist Lawrence Yun. “But consumers are
definitely seeing more choices, and affordability is improving
due to lower interest rates.”

US existing home sales rebounded According to Freddie Mac, the 30-year fixed-rate mortgage
Existing-home sales improved in July in US, breaking a streak averaged 6.49 percent as of August 15. That’s up from 6.47
of four consecutive monthly declines, according to the National percent one week ago but down from 7.09 percent one year ago.
Association of Realtors. Total housing inventory registered at the end of July was
Three out of four major US regions registered sales 1.33 million units, up 0.8 percent from June and 19.8 percent
increases while the Midwest remained steady. Year-over-year, from one year ago (1.11 million). Unsold inventory sits at a
sales rose in the Northeast and West but retreated in the 4.0-month supply at the current sales pace, down from 4.1
Midwest and South. months in June but up from 3.3 months in July 2023.
Total existing-home sales–completed transactions that The median existing-home price for all housing types in

include single-family homes, town homes, condominiums July was $422,600, up 4.2 percent from $405,600 a year ago.
and co-ops—increase 1.3 percent from June to a seasonally All four US regions posted price increases.
adjusted annual rate of 3.95 million in July. According to the monthly Realtors Confidence Index,
Year-over-year, sales fell 2.5 percent (down from 4.05 properties typically remained on the market for 24 days in
million in July 2023). July, up from 22 days in June and 20 days in July 2023.

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