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Existing Home Sales Fall -3.2% In July … Back To 2001 Levels (Inventory Has Declined For 14 Straight Months)

This is a syndicated repost published with the permission of Confounded Interest. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Existing home sales are out for July and they were down -3.2% in July with 5.39 million units SAAR added.

Unfortunately, existing home sales are only back to 2001 levels.

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That dang credit bubble really took the wind out of the sails of the US economy. And nothing has been the same since.

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The inventory of previously owned homes has now declined for 14 straight months.

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