‘Very concerning’ inventories and higher prices weigh on home sales

screen-shot-2016-09-22-at-2-55-50-pmBy Jann Swanson | Mortgage News Daily

Sales of existing homes slowed for the second consecutive month in August according to data released on Thursday by the National Association of Realtors® (NAR). Sales declined by 0.9 percent to a seasonally adjusted annual rate of 5.33 million units despite mortgage rates that were near record lows. Sales in July had been reported down from June by 3.2 percent to 5.39 million and that number was revised lower in the current report to 5.38 million. Coupled with July’s decline, sales are at their second-lowest pace of 2016, but are still slightly higher (0.8 percent) than a year ago when the annual rate was 5.29 million units.

Continued:

Share this!

Additional Articles

Top master-planned communities for 2024

By AZ Big Media Here are the Top 10 master-planned communities in Arizona, based on public voting for the 2024 edition of Ranking Arizona, the state’s biggest and most comprehensive business opinion poll. Ranking Arizona

Read More »
News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

September 2016
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930