I’m excited for next Wednesday, July 22.
It’s not only because my beloved Yankees are playing the Baltimore Orioles in game two of an AL East battle that could go a long way in determining who wins the division in early October.
I’m eagerly awaiting next Wednesday because we’ll find out how the housing market performed last month with the release of June existing-home sales.
May was a great month for housing. Existing-home sales reached their highest pace in nearly six years. Furthermore, pending home sales – a leading indicator of housing activity based on signed contracts – climbed to their highest level in nine years.
What should we expect next week? In the spirit of bringing the conversation back to baseball, either sustained job creation and still-low interest rates will have “closed the door” for more buyers, or the heating up of home prices may have left some in the dugout.