Quiet Week – The Newsstand

The housing data released this week revealed mixed results. In July, sales of previously owned homes dropped 3% from the multi-year high seen in June. This was the first monthly decline since February. According to the NAR, rising prices and a lack of inventory are holding back sales activity. By contrast, contracts signed for new homes jumped 12% in July to the highest level since October 2007, far exceeding expectations.

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