AgentIndustry News

Auction.com: Home sales and prices could set new July records — and shut some buyers out

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Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015, at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers. Takeaways: Auction.com expects existing-home sales for July to fall between seasonally adjusted annual rates of 5.49 million and 5.84 million annual sales. “May and June existing-home sales have both been very encouraging for anyone looking for proof that the housing market is in recovery,” said Auction.com Executive Vice President Rick Sharga. This steeper-than-expected increase may price some buyers out of the market. This time next month, we will probably be reporting that July home sales followed the strong momentum we saw in May and June -- if Auction.com LLC’s Real Estate Nowcast proves true. The online real estate marketplace said it expects existing-home sales for this month to f...