How July’s Real Estate Trends Affected Buyers

By Gino Blefari

In July, the real estate market faced a housing-inventory challenge with several reports showing an increase in home prices and decrease in home sales. For example, CoreLogic Case-Shiller reported home prices rose 5.6%, setting an all-time high for the sixth consecutive month. And the National Association of REALTORS® said existing home sales were down 1.8%.

These numbers may give some pause at first glance, but considering the basics of supply and demand, it’s clear the number of sales have decreased due to a small pool of available homes paired with a high number of potential buyers on the market. This shows us that home prices that steadily increase box many home seekers out of the market.

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