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Economy in Brief

U.S. Existing Home Sales Down
by Tom Moeller August 24, 2004

Existing single family home sales fell 2.9% in July to 6.72M. The record high in June was revised slightly lower. Consensus expectations had been for a lesser decline to 6.80M.

The figures reflect closings of home sales in earlier months.

Sales fell across the nation except in the South where they rose modestly to a record high.

The median price of an existing home rose a slight 0.2% m/m to $191,300 (+8.7% y/y).

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

Existing Home Sales (000, AR) July June Y/Y 2003 2002 2001
Existing Single-Family  6,720  6,920 8.6% 6,111 5,583 5,290
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