Current: Sales of existing US houses up year-on-year for the first time in 17 months

Sales of existing US homes (Existing Home Sales, July) were +2.5% higher than expected at an annual rate of 5.42 million (forecast was +2.5 to an annual rate of 5.39 million; previous month was -1.7% to an annual rate of 5.27 million). This is the first month that sales have risen again after 17 months in a row when sales were down on the same month last year!

Sales of existing homes account for approximately 90% of the US real estate market and are therefore of particular importance!

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