Home sales surge in July despite higher interest rates
For-sale inventory inches up from June but still down
compared to a year ago
share this article
Growth
in real estate image via Shutterstock.“Mortgage interest rates are at the highest level in two years, pushing some buyers off the sidelines,” said NAR Chief Economist Lawrence Yun in a statement. “The initial rise in interest rates provided strong incentive for closing deals. However, further rate increases will diminish the pool of eligible buyers.”
Housing inventory rose 5.6 percent month over month to 2.28 million existing homes in July, representing a 5.1-month supply of homes at the current rate of home sales, NAR said. That’s down 5 percent from a year ago, when there was a 6.3-month supply, according to the trade group.
More from Inman News
2 day loans by phone has been designed for the applicant like tenants and non-property who can easily avail the fund without any tension of poor credit scores and arrangement of any collateral of submission.
ReplyDelete60 day loans for bad credit
same day loans
180 day loans uk
Private Student Loans For People With Bad Credit has been designed to help out the individual availing the immediate cash which will help them in fulfilling all their monetary requirements on the right time, Please visit
ReplyDeletebad credit loans for weddings
Unsecured loans for tenants
Auto loans for people with repos