Higher U.S. home prices may encourage more owners to list their properties, but they also risk turning away would-be buyers. The University of Michigan’s consumer sentiment data on Friday showed a gauge of optimism about selling conditions related to prices held in July near the highest level since 2005.
With the median price for a previously owned home sold in June at a record, the university’s index of buying conditions tied to costs dropped to an 11-year low, helping explain months of sideways action in residential sales.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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