June Existing Home Sales Decline Again Amid More Bad News

This is a syndicated repost courtesy of Online Course Notes For Financial Markets and Banking. To view original, click here. Reposted with permission.

According to the National Association of Realtors, existing home sales for June declined for the third straight month.

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What is unusual is that it is April, May and June. The year 2013 saw six straight months of declining home sales, but that was August 2013 through February 2014 (post peak season).  June is typically the peak in a year for existing homes sales and median price.

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At least existing home sales INVENTORY is slightly higher than in June 2017.

Prices are simply unaffordable and inventory remains too low.

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With median price YoY almost twice that of hourly earnings.

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