Another surprise from US economic data. Against forecasts, the data on existing home sales fell by 3,5% (to 4,67 million) in July. After the insufficient growth of the economic super index and negative numbers on inflation e unemployment, this last figure seems to sink even more hopes on the real estate market, which after the armageddon of 2007-2008 still appears to be far from recovery.
The data came from the National Association of Realtors, causing great surprise. Analysts' forecasts even spoke of an increase of 4%, to 4,96 million units. The previous month's indicator was revised up slightly, from 4,77 to 4,84 million units. The average house price decreased by 4,4%, settling at 174 dollars, compared to 182 in the same period last year.
According to Lawrence Yun, chief economist of the Nar (National Association of Realtors), many consumers have withdrawn because they are unable to access financing from banks: "These potential customers represent the difference between a troubled recovery and a stronger real estate market that could stimulate the economy and create new jobs”.
