No slowdown in the real estate market in the United States.
In the US, existing home sales hit a new record in July. Last month they grew by 5% and reached $6.12 million in volume. equal to 5.61 million euros. The figure is higher than analysts' expectations, which stood at $5.94 million for last month. The average price of houses was also a record: 182,100 dollars, up 12.1% compared to July 2002. The chief economist of the real estate association Nar, David Lereah, declared that 'this is a surprising result, we have probably reached the maximum peak for the sector'. A result also favored by low interest rates. And Merrill Lynch explained that the data is based on the closing of contracts and therefore reflects decisions made in May and June, when mortgage rates were lower on average than today. In fact, from 5.23% in June it went to 6.24% in August. But sales of existing homes are also expected to remain at very high levels for the next two months.
source: Real Estate Observatory
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