The sale of second-hand houses in the US falls.
The National Association of Realtors (NAR) announced existing home sales data for June.
Thus, second-hand home sales in the country decreased by 3.3 percent per month, in seasonally adjusted terms, to 4.16 million.
Existing home sales, which fell to their lowest level since January, were expected to hit the 4.20 million level in this period. Existing home sales were recorded at 4.30 million, an increase of 0.2 percent in May.
The sales of second-hand houses in the country decreased by 18.9 percent in June compared to the same month of the previous year.
“THERE IS NOT ENOUGH HOME”
The median home price on the existing US market reached $410,200 in June, the second highest level since January 1999, when the data began to be released. The median home price on the existing market in the country registered an all-time high of $413,800 last year.
NAR chief economist Lawrence Yun, whose views were included in the statement, said there was a 23 percent decline in existing home sales in the first half of the year.
Yun stated that suppressed demand will emerge soon, especially if interest rates on mortgages (home loans) and housing stocks move positively.
Noting that there are not enough houses for sale, Yun said that house sales have declined, but house prices have remained strong in most of the country. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
