On August 20, 2015, National Association of Realtors® (NAR) reported that nationwide existing home sales gained 2.0% to annual rate of 5,59 million homes in July of 2015 from 5.48 million homes in June of 2015, and jumped 10.3% to annual rate of 5.07 million homes from July of 2014.
There were 2.24 million homes supplies of available inventory in July of 2015 down 0.4% from June of 2015, and dropped 4.7% of 2.35 million homes from July of 2014; while, there were 4.8 months available inventory in July of 2015 compare to 4.9 months in June of 2015. On average it took 42 days to sell a home in July of 2015, increased from 34 days in June of 2015,but lower from 48 days in July of 2014.
First time buyers acquired 28.0% of homes in July of 2015, down from 30.0% in June of 2015, lower from 29.0% in July of 2015.
Cash buyers purchased 23.0% of all sales in July of 2015, up from 22.0% in June of 2015, but fell from 29.0% in July of 2014. Investors purchased 13.0% of homes in July of 2015, higher from 12.0% in June of 2015, but dropped from 16.0% in July of 2014, according to Adam DeSanctis of www.realtors.org on August 20, 2015. Lawrence Yun, NAR chief economist, stated "Rising rents and flat wage growth make it difficult for many to save for a downpayment, and the dearth of supply in affordable price ranges is limiting their options."
For more complete information, on NAR's July 2015 existing home sales report, please CLICK HERE
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