U.S. July Existing Home Sales: 4.01 Million Units...Up 2% From Previous Month

JOON HYOUNG LEE

Summary

U.S. July existing home sales reached 4.01 million units, an increase of 2% from the previous month.
This figure greatly exceeded the market forecast of 3.92 million units.
Existing home sales are an important indicator for gauging American consumer sentiment and economic conditions.

Last month, existing home sales in the United States increased by 2% compared to the previous month.

The National Association of Realtors (NAR) announced on the 21st (local time) that existing home sales in the U.S. for last month totaled 4.01 million units. This figure significantly exceeded the market forecast of 3.92 million units. Compared to the previous month (3.93 million units), sales rose by 2%.

Existing home sales act as an indicator of American consumer sentiment and the housing market. In the United States, existing home sales account for more than 80% of the total housing market. Residential real estate indicators are the first to decline during an economic downturn and the first to rise during a boom.

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