Existing Home Sales Down

Existing home sales fell 2.6% last month, which was more than predicted. In addition, the inventory of unsold home increased from 4.4 months in June to 4.6 months in July. The treasury market rallied on this news because Greenspan is less likely to keep raising interest rates if the housing bubble starts to show signs of deflation.


“NEW YORK, August 23 (newratings.com) – The sales of existing homes in the US declined 2.6% in July, according to the National Association of Realtors.”

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