Existing-Home Sales Down 0.7% in August

The National Association of Realtors is reporting that existing home sales were down 0.7% in August to a seasonally-adjusted annual rate of 4.04 million (down 15.3% year over year). Total housing inventory at the end of August was 1.1 million units, down 0.9% from July but down 14.1% from one year ago. Unsold inventory sits at a 3.3-month supply at the current sales rate with properties remaining on the market for around 20 days. Continue reading HERE...