Sales of existing houses in the United States visited 2% in August compared to the previous month to a seasonally-adjusted annual rate of 5.88 million, according to the National Association of Realtors (NAR) report published on Wednesday.
On an annual basis, the August increase was 1.5% lower than last year. On the other hand, the mean existing-home prices for all real estate types in August saw a yearly gain of 14.9% to $356,700. Overall housing inventory at the end of August was 1.29 million systems, down 1.5% month-over-month and 13.4% year-on-year.
Discussing the information, NAR’s primary economist Lawrence Yun said that » sales slipped a bit in August as costs increased across the country … Although there was a decline in home purchases, prospective buyers are out and about browsing, but much more determined about their financial limits, and merely awaiting more inventory. «
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