Existing Home Sales Down 2% in August

The National Association of Realtors is reporting that existing home sales were down 2% in August to a seasonally-adjusted annual rate of 5.88 million (down 1.5% from one year ago). Total housing inventory at the end of August was 1.29 million units, down 13.4% from one year ago. Unsold inventory sits at a 2.6-month supply at the current sales pace with properties remaining on the market for around 17 days. The median existing-home price for all housing types was $363,800, up 15.6% from August, 2020. Continue reading HERE...