Existing home sales slipped for the sixth straight month in July. Median home sales climbed 10.8% from one year ago but down $10k national median from last month’s record national high of $413,800.

The inventory of unsold existing homes rose to 1.31 million by the end of July, or the equivalent of 3.3 months at the current monthly sales pace. All-cash sales accounted for 24% of transactions in July, down from 25% in June, but up from 23% in July 2021.

Housing Starts dropped in July. Starts for single-families are down 18.5% yearly, but up 17.4% for buildings with 5 units or more.

Building Permits are down 11.7% annually for single-families, up 26.2% for 5+ unit buildings.

Las Vegas market is cooling as median prices so far down again for August. Buyer’s are still in the market and property is trading hands although August numbers are looking like decreases in median price for single family homes and townhouses with condos rising slightly.

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Real Estate Market Pulse for the week of August 15, 2022. Episode 4! Is the real estate market stalling? Five of the last six recessions saw the housing market COOL, and only ONE RECESSION where housing actually crashed – 2008. The market appears to be STALLING with modest losses. Will we see a market crash? Think again.

The Market Pulse where you get what happened last week, what’s going on in the National housing market, the national economic notes of the week, the inverted yield curve watch, the market update for my Southern Nevada neighbors, this weeks predictions, some real estate headlines, and the ever important FED Watch, yes FED, we are watching WHAT YOU DO and NOT WHAT YOU SAY.