Signed Contracts for U.S. Homes Rise for the Second Month in a Row
ANDREW CABALLERO-REYNOLDS/AFP via Getty ImagesThe numbers: U.S. home sales inched up for the second month in a row, as the housing market continues to be hampered by high rates and a lack of home listings.Pending home sales rose by 0.9% in July from the previous month, according to the monthly index
Economy Grew 2.1% in 2Q, Inflation at 3.2%
An initial growth estimate of 2.4% was downgraded, though it’s still an acceleration from the 2% growth rate logged in the first quarter.
Investors Pull Back, 45% Fewer Homes Year-to-Year
Investors face the same problems as first-time buyers: low inventory and high mortgage rates. Dollar volume was down 42%, as investing in Jacksonville dropped 65%.
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