After years of bad times, the home building and real estate industries will look back fondly on July 2016 — especially because July is usually dreadful for the market.
Realtor.com reports that the month featured the highest consumer confidence for a July since 2007, the lowest July mortgage rates ever, the lowest July unemployment figures since 2007, and the highest nominal home prices ever.
Demand for homes was higher and more home were for sale in July when compared to June. Millennials were more active last month, as 81 percent of Realtor.com users ages 25 to 34 said they were looking to buy a home, a six percent rise from the previous year.
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