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Economy in Brief

Existing Home Sales Another Record High
by Tom Moeller July 26, 2004

Existing single family home sales rose in June to another record high of 6.95M. The 2.1% increase versus May was versus Consensus expectations for a decline to 6.65M. May sales were revised up slightly.

The figures reflect closings of home sales in earlier months.

Sales rose across the nation.

The median price of an existing home jumped 5.2% m/m to $191,800 (+9.6% y/y).

The latest release from the National Association of Realtors is available here.

"Housing and the Business Cycle" from the Federal Reserve Board is available here.

Existing Home Sales (000, AR) June May Y/Y 2003 2002 2001
Existing Single-Family  6,950  6,810 17.4% 6,111 5,583 5,290
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