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Existing Home Sales Down

Existing-Home Sales Fall Slightly in August




Existing Home SalesExisting-home sales eased up in August for the second consecutive month despite mortgage rates near record lows as higher home prices and not enough inventory for sale kept some would-be buyers at bay, according to the National Association of Realtors®. Only the Northeast region saw a monthly increase in closings in August, where inventory is currently more adequate.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 0.9 percent to a seasonally adjusted annual rate of 5.33 million in August from a downwardly revised 5.38 million in July. After last month’s decline, sales are at their second-lowest pace of 2016, but are still slightly higher (0.8 percent) than a year ago (5.29 million).

Lawrence Yun, NAR chief economist, says recent job growth is not yielding higher home sales. “Healthy labor markets in most the country should be creating a sustained demand for home purchases,” he said. “However, there’s no question that after peaking in June, sales in a majority of the country have inched backwards because inventory isn’t picking up to tame price growth and replace what’s being quickly sold.”

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National Home Prices Continue to Rise




Data released for the S&P CoreLogic Case-Shiller Indices for June 2016 shows that home prices continued their rise across the country over the last 12 months.
The S&P CoreLogic […] Continue Reading…

Existing Home Sales Down

Existing-Home Sales Fall in July




Slowed by frustratingly low inventory levels in many parts of the country, existing-home sales lost momentum in July and decreased year-over-year for the first time since November 2015, according […] Continue Reading…

New Home Sales Up

New Home Sales Up in July




Sales of new single-family houses in July 2016 were at a seasonally adjusted annual rate of 654,000, according to estimates released jointly by the U.S. Census Bureau and the […] Continue Reading…

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National Home Prices Continue to Rise




Data released for the S&P CoreLogic Case-Shiller Indices for May 2016 shows that home prices continued their rise across the country over the last 12 months.
The S&P CoreLogic […] Continue Reading…