Existing Home Sales at Highest Level Since December 2006

The National Association of Realtors is reporting that existing home sales jumped 2.4% in August to a seasonally-adjusted annual rate of 6 million (10.5% higher than one year ago). Total housing inventory at the end of August was 1.49 million units, down 0.7% from July and down 18.6% from one year ago. Total unsold inventory was at a 3-month supply at the current sales pace with properties remaining on the market for around 22 days. Continue reading HERE...