Steel Markets
August 22, 2019
July Existing Home Sales Rebound from June
Written by Sandy Williams
Home buyers in the U.S. bought more existing homes in July as mortgage rates continued to ease. The National Association of Realtors reports that existing-home sales rose 2.5 percent to a seasonally adjusted annual rate of 5.42 million after dipping in June. On a year-over-year basis, existing home sales were 0.6 percent higher last month.
Sales were strongest in the West, increasing 8.3 percent, followed by the South and Midwest at 1.8 percent and 1.6 percent, respectively. Sales in the Northeast fell 2.9 percent.
