Existing Home Sales Up in July

Posted by Louis Navellier on 8/25/08 2:40 pm

Existing home sales were up in July, but so were inventories.  There’s now 11.2 months of supply.  In other words, more homes were put up for sale than were sold.  That’s not good.  Neither was the 7.1% year/year drop in the median home price.  There’s no end in sight for the housing mess.

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