According to the National Association of Realtors, existing-home sales rose nationwide for the 3rd consecutive month. They also reported that inventory levels are easing and home prices declined less sharply in June. “This is another hopeful sign – if we can keep the volume of sales above the level of new inventory, prices could stabilize in many areas around the end of the year,” Chief Economist Lawrence Yun said.
From this data, they are expecting a gradual uptrend in sales to continue in part due to the tax credit and also due to the historically high affordability conditions.
Source: NAR
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