Existing to a level not seen since 1995. Inventories are at a record high of 12.5 months supply. The median home price was unchanged at $182,600. Refinancing activity picked up two weeks ago as the the 10 year Treasury broke the 2.80% level. It is at 2.48% this morning, so low mortgage rates should continue to drive refinancing activity.
Existing Home Sales Down 27.2% in July
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