Existing home sales are currently at an annual pace of 5.22 million, which is up 1.4% over last month. This reverses the six-month trend of dips in sales every month. The inventory of existing homes is still below the 6-month supply needed for a normal market and is now at a 4.3-month supply. If buyer demand continues to outpace the current supply of existing homes for sale, prices will continue to appreciate. 

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