March 24, 2017

Home Sales Nosedive

July marked a sharp 27% decline in the annual rate of home sales. Since July of 2009 the annual rate has fluctuated between 5,140,000 and 6,490,000 homes, but this rate fell to 3,830,000 as of July 2010, which is the lowest annual rate since the National Association of Realtors began recording total existing home sales in 1999. The chart below illustrates the ten-year trend of home sales and how tumultuous the market has become.

The market has become quite inconsistent in comparison to the past decade.

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