The fall in existing home sales in June comes despite the recent rebound in consumer confidence, suggesting affordability is still the main driver of homebuyer activity. With house price declines likely to soon reverse course and mortgage rates to remain elevated, this supports our view that existing home sales will rise only marginally over the next year.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services