Existing-home sales rise as prices hit a record – The Property Chronicle
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Existing-home sales rise as prices hit a record

Residential Investor

Sales of existing homes rose 1.4% in June, to a 5.86m seasonally adjusted annual (see top of first chart). Sales are up 22.9%t from a year ago. Sales in the market for existing single-family homes, which account for about 88% of total existing-home sales, also rose 1.4% in June, coming in at a 5.14m seasonally adjusted annual rate (see top of first chart). From a year ago, sales are up 19.3%. Condo and co-op sales rose 1.4% for the month, leaving sales at 720,000 for the month versus 710,000 in May.

Residential Investor

About Robert Hughes

Robert Hughes joined the American Institute for Economic Research in 2013 following more than 25 years in economic and financial markets research on Wall Street. He was formerly the Head of Global Equity Strategy for Brown Brothers Harriman, where he developed equity investment strategy combining top-down macro analysis with bottom-up fundamentals. Prior to that, he was a senior equity strategist for State Street Global Markets, senior economic strategist with Prudential Equity Group and senior economist and financial markets analyst for Citicorp Investment Services.

Articles by Robert Hughes

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