Pending sales of existing homes in July as measured by signed contracts dropped 1.8% from June.
- The Northeast PHSI dropped 6.6% in July to the level of 92.0, which is still a 16.9% increase from the same period a year ago.
- The Midwest index value has dropped by 3.3% to 104.6 in the last month, which is 8.5% down compared to July 2020.
- 40% of multiple listing service data are used as a sample to include in the idex every month.
- Pending home sales transactions in the South were down 0.9% to the level of 130.9 in July, down 6.7% from a year ago.
- The Western index rose 1.9% in July to 99.8, but still down 5.7% from a year before.
The curious fact is that the existing-home sales volume fell within the range of 5.0 to 5.5 million twenty years ago in 2001, which is considered normal for the current U.S. population.
DXY up +0.06%, EUR USD down -0.04%Source: National Association of Realtors