US Existing Home Sales Decline 1.3% In July To Lowest Level in 11 Months (High Prices And Low Inventory)

According to the National Association of Realtors, existing home sales fell 1.3% in July. This is the lowest sales figure in 11 months.
But what is noticeable is the rise in median existing home prices (zooming upwards) relative to inventory (low). Sprinkle in The Fed’s zero interest rate policy and we have a party!

This post was published at Wall Street Examiner on August 24, 2017.