By Clare Trapasso | realtor.com
As they do this time of year, prices on existing homes began falling in August—which may have led to a bump in sales.
Purchases of existing homes had fallen sharply in July but rebounded in August, according to the latest report from the National Association of Realtors®. Sales of the previously lived-in residences rose 5.5% from a month prior and 7.3% from a year earlier, hitting 541,000 deals.
These numbers were not seasonally adjusted. That means they weren’t smoothed out over 12 months to account for the ups and downs of the housing market.
