US Existing-home sales increased for the third straight month in July 2015.
Low inventory levels and rising prices kept many new buyers from entering the market, as first-time home buyers fell to their lowest share since January, according to the National Association of Realtors®.
Total existing-home sales were up 2.0%, which brought the SAAR for EHS (seasonally adjusted annual rate) to 5.59M in July, up from June’s 5.48M.
July’s EHS pace remained at the highest level since February 2007’s 5.79M SAAR. This also marked the tenth consecutive month of year-over-year gains, as July’s volume was 10.3% higher than a year ago (5.07M in July 2014).
Existing Home Sales Data available at Realtor.org: Infographic: July 2015 Existing-Home Sales | realtor.org >>.