WASHINGTON, Aug 23 — US homes for sale were in short supply and expensive in July, but Americans continued buying, according to industry data today showing sales rose for a second straight month.
But that demand drained supplies and record-setting prices are now seen as keeping buyers out of the market, a dynamic that NAR Chief Economist Lawrence Yun pointed to in the July data. The median existing home price declined slightly from June to US$359,000, but that was still nearly 18 per cent higher than its level last year.
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