The Law Office of Michael E. Ripley

Exceeding Expectations

Home Sales Rose 2.6% Nationwide

An article in USA Today (July 23, 2014) states that existing home sales increased in June, for the third straight month. Nationwide, sales rose 2.6%, to an annually adjusted rate of 5 million. Also, the homes for sale inventory grew by 2.2%, to 2.3 million nationwide. That is a 5.5 months supply. Realtors consider a six month supply to be a balance market.