Housing Inflation Seems To Be Cooling Off
In his podcast addressing the markets today, Louis Navellier offered the following commentary. Housing Inflation Cooling OffThe National Association of Realtors on Thursday announced that existing home sales declined 5.9% in July to a 4.81 million annual pace. The inventory of unsold homes is currently 1.31 million, which represents a 3.3-month supply at the current annual sales pace. Median home prices have risen 10.8% in the past year to 403,800, but actually declined 2.4% in the past month from June’s $413,800 median home price. So the Fed’s higher interest rate policy is now causing housin...