August 2023 Existing Home Sales Report
Tuesday, August 1, 2023
Existing Home Sales printed at 1,317, a -9.79% move from the prior reading of 1,460.
What to Watch For
- •Sales pace (annualized, seasonally adjusted)
- •Median sale price (year-over-year)
- •Months of supply (inventory indicator)
- •First-time buyer share
- •Cash sales percentage (investor activity)
Expected Market Reaction
Falling sales + rising prices: stagflation dynamic for housing, confusing for rates. Rising sales + stable prices: normalization, homebuilders rally. Supply crossing 6 months historically marks the shift from seller to buyer market.
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Get release-day analysis and market reaction framing before consensus forms.