8/23: MetroIntelligence Econ Update, P.DUFFY

July existing home sales down 0.7 percent from June and 1.5 percent year-on-year

Total existing-home decreased 0.7 percent to a seasonally adjusted annual rate of 5.34 million in July from 5.38 million in June. With last month’s decline, sales are now 1.5 percent below a year ago and have fallen on an annual basis for five straight months.

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July foreclosures rose slightly year-on-year for first time in three years

A total of 30,187 U.S. properties started the foreclosure process for the first time in July, up 1 percent from the previous month and up less than 1 percent from a year ago – the first year-over-year increase in foreclosure starts nationwide following 36 consecutive months of year-over-year decreases.

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Gallup:  36 percent of Americans remain satisfied with country’s direction in August

Since hitting a 12-year high of 38% in June, the percentage of Americans who are satisfied with the way things are going in the U.S. has remained near that same level, with the August reading coming in at 36%. Satisfaction was closer to 30% at the start of the year and averaged 27% in 2017.

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