Thursday, July 21, 2016

Market update from the National Association of REALTORS®

Existing home sales are up for the fourth consecutive month. Sales are up 3% from June 2015.

Lawrence Yun, NAR cheif economist said "Existing sales rose again last month as more traditional buyers and fewer investors were able to close on a home despite many competitive areas with unrelenting supply and demand imbalances. Sustained job growth as well as this year's descent in mortgage rates is undoubtedly driving the appetite of home purchases."