Lisa Selin Davis | realtor.com
We’re on Month 3 for the continuing rise of existing-home sales, according to a report by the National Association of Realtors® that came out on Thursday. Completed sales of single-family homes, townhomes, condominiums, and co-ops in July were up 2% from June, their highest pace since February 2007, with a year-over-year increase for 10 consecutive months, and 10.3% more than a year ago.
You’ve probably come to expect the reason: “stubbornly low inventory levels,” according to NAR.
But here’s a surprising tidbit.
