Redfin reports existing home sales rose 0.6% last month, but were at their lowest July level ever Page 1

(NASDAQ: RDFN) —Existing home sales rose 0.6% month-over-month in July but fell 2% year-over-year—to a seasonally adjusted annual rate of 4,094,991. That’s the lowest July level in records going back to 2012, according to a new report from Redfin (redfin.com), the technology-driven real estate brokerage.

Pending sales, a more timely measure of demand that includes both existing and newly built homes, fell to their lowest monthly level except for April 2020, when the pandemic ground the housing market to a halt. They fell 2.9% from a month earlier and 5.8% from a year earlier, both the biggest declines in nearly a year on a seasonally adjusted basis.