US existing home sales for July 2015. Highest since Feb 2007:
The annualized pace of existing home sales reached the highest level since February 2007.
The prior month was revised to 5.48 from 5.49M. Not much change on revision.
The MoM showed a 2.0% gain vs a -1.1% decline expected.
The months supply of homes is 4.8 months which is still low.
Other data from the report.
The median price fell to 234.0K from 236.3K. This is up 5.6% for the year
The average price fell to 278.0K from 280.2K. This is up 3.9% for the year.
The days on the market rose to 42 days from 34 days last month. A year ago it was 48 days.
Distressed sales are 7% vs 8% lst month (9% a year ago)
Foreclosures are 5% vs 6% last month (6% a year ago).
First time buyers 28% vs 30% last month (29% a year ago)
All cash is 23% from 22% last month (down from 29% a year ago)
Overall a solid report
