According to data released this morning by the National Association of Realtors, home sales were up in July of this year. Hitting a 5-month high, existing home sales, which include houses, condos, and townhouses, climbed 3.1%.However, the median home price for all existing home types was down 7.1% from a year ago. Housing inventory remained high, with available housing growing 3.9%, to an inventory of 4.6 million homes, translating to an 11.2 month’s supply of houses, condominiums, town houses, and co-ops.
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