The National Association of Realtors’ (NAR) June existing-home sales report showed that existing-home sales were down 1.2% in June compared to May, but 15.2% greater than June of last year. June’s housing inventory supply was at 5 month supply on a seasonally adjusted basis, up from May when inventory was at a 4.9 month supply, but was slightly down from a year ago when inventory was at 6.1 month supply.
Using data from the NAR’s June existing-home sales report, the Wall Street Journal asks (and answers) five questions about the current changes in the housing market that are on many peoples’ minds. How are rising interest rates affecting existing-home sales? Will interest rates have an impact on home prices? How will the changes in inventory supply affect home values? Is foreclosure volume improving? Is investor interest in the housing market changing? To see the full article, go to http://on.wsj.com/1dVHvkp.