Despite a better than expected 1.1% MoM rise in June (thanks to notable downward revisions), existing home sales growth is the slowest since February. Of course, NAR’s Larry Yun gloated of “sustained job growth” driving an “impressive streak of sales gains,” although he cautions ” it’s unclear if this current sales pace can further accelerate.” Median home prices soared to new record highs driven by soaring demand for condo/co-ops (+3.2% vs just 0.8% for single-family homes).

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