Existing single-family home sales rose in July but condo sales fell – The Property Chronicle
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Existing single-family home sales rose in July but condo sales fell

Residential Investor

Sales of existing homes rose 2.0% in July, to a 5.99 million seasonally adjusted annual (see top of first chart). Sales are up 1.5% from a year ago. Sales in the market for existing single-family homes, which account for about 88% of total existing-home sales, rose 2.7% in July, coming in at a 5.28 million seasonally adjusted annual rate (see top of first chart). From a year ago, sales are down 0.8%. Condo and co-op sales fell 2.7% for the month, leaving sales at a 710,000 annual rate for the month versus 730,000 in June.

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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