Existing home sales decreased 3.2% last month from June to a seasonally adjusted rate of 5.39 million, the National Association of Realtors said Wednesday. It was the first time sales had decreased since February.
The sales were much lower than the market expectations (5.52 million) . And the existing home sales in July were down 1.6% from a year earlier.
It suggests that the US housing market has hit the top and now may be heading south.
In this kind of environment, it is getting harder to sell your house in a short time frame. In New York City, the average time frame to sell the house is like 10-12 months and it looks like getting longer now.
Having said that, there is always to have your house sold quick. As a Local Cash Buyer, We Buy Houses As Is All Cash and Close very quickly. In many instances, we can close within 7-10 days.
For more information, please visit our main website at WeBuyHousesBronx4Cash.com
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