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The Week Ahead: Updates on Existing-Home Sales

in Daily Dose, News August 16, 2020 1,077 Views

for saleOn Friday, the National Association of Realtors will release the latest installment of its Existing-Home Sales Report, covering data for the month of July 2020. According to NAR, existing-home sales, "which include single-family, townhomes, condominiums and co-ops, are based on transaction closings from Multiple Listing Services."

The previous report, covering June 2020 data, found existing-home sales rebounding "at a record pace" and "showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic."

At the time, NAR Chief Economist Lawrence Yun said, “The sales recovery is strong, as buyers were eager to purchase homes and properties that they had been eyeing during the shutdown. This revitalization looks to be sustainable for many months ahead as long as mortgage rates remain low and job gains continue.”

Here's what else is on the calendar for The Week Ahead:

  • Monday, August 17 - BuildFax July Monthly Housing Health Report
  • Tuesday, August 18 - New Residential Construction Report, Census Bureau
  • Thursday, August 20 - Unemployment Insurance Weekly Claims Report, Department of Labor

About Author: David Wharton

David Wharton, Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has nearly 20 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. He can be reached at [email protected].
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