The Quikrete Industry Dashboard

Existing-home sales are the heavy hitter in the latest Quikrete Industry Dashboard.

With a lack of supply on the market, combined with mortgage rates rising as high as 7%, existing-home sales declined 2.2% in July to a seasonally adjusted rate of 4.07 million, the National Association of Realtors reported.

On a year-over-year basis, existing-home sales in July dropped by 16.6% and are down from 4.88 million in July 2022.

In contrast, new home sales increased 4.4% in July to a seasonally adjusted annual rate of 714,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.   

Sales essentially sizzled in July and are 31.5% ahead of the July 2022 estimate of 543,000. 

On the gas pump front, prices saw a slight decrease as the national average cost for regular gasoline slipped to $3.83 per gallon on Aug. 24 compared to a national average price of $3.87 a week ago. 

On a month-over-month basis, average regular gas prices are up from nearly $3.64 per gallon.

On Wall Street, nearly every company on the Quikrete Industry Dashboard saw month-over-month stock price declines or were nearly flat for the week.