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Home sales slid in July as prices increased
Home sales declined at a faster pace than expected in July as prices pushed higher, the National Association of Realtors reported Tuesday.
Existing sales dropped 2.2% from June, against the Dow Jones estimate for a 0.2% decline. Sales totaled 4.07 million, against the estimate for 4.15 million, and were off 16.6% from a year ago.
The median sales price increased 1.9% to $406,700, while unsold existing homes rose 3.7% from June to the equivalent of 3.3 months of supply. $S&P 500 Index (.SPX.US)$ $Dow Jones Industrial Average (.DJI.US)$ $SPDR S&P Homebuilders ETF (XHB.US)$ $Mid-America Apartment Communities Inc (MAA.US)$
Existing sales dropped 2.2% from June, against the Dow Jones estimate for a 0.2% decline. Sales totaled 4.07 million, against the estimate for 4.15 million, and were off 16.6% from a year ago.
The median sales price increased 1.9% to $406,700, while unsold existing homes rose 3.7% from June to the equivalent of 3.3 months of supply. $S&P 500 Index (.SPX.US)$ $Dow Jones Industrial Average (.DJI.US)$ $SPDR S&P Homebuilders ETF (XHB.US)$ $Mid-America Apartment Communities Inc (MAA.US)$
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