Home sales fell nearly 6% in July as housing market
The housing market has been slowing down for some time now. The recent drop in sales is certainly not surprising given how slowly this recovery began
it will only get more difficult as we approach record levels of supply coming onto the market soon enough!
The mortgage rates increased in June, with the average rate on a 30-year fixed loan crossing 6%.
This is an especially damaging factor for buyers who want to purchase homes but find themselves unable because of these sudden price hikes
It's important that you understand how drastically things have changed when it comes time make your offer; not only are houses more expensive than ever before due largely by record levels
The National Association of Realtors reported that existing home sales fell 5.9% in July from June to a seasonally adjusted annual rate of 4.81 millio
this marks the worst performing month since November 2015! In addition, NAR's data shows there has not been any growth over six-month periods
means we're still stuck with slowdowns similar as those seen back when Obama took office around August 2013 - January 2014."
The drop in sales of these expensive properties was not unexpected but it's still a worrying trend nonetheless, especially considering how little supply there seems like recently
to be on top-end tiers wheredemand thrives due largely because buyers have been able acquire more inventory than they can sell (a problem throughout all industries).