Boston Real Estate Investors Association

Existing Home Sales at Highest Level Since December 2006

Existing Home Sales at Highest Level Since December 2006

The National Association of Realtors is reporting that existing home sales jumped 2.4% in August to a seasonally-adjusted annual rate of 6 million (10.5% higher than one year ago).  Total housing inventory at the end of August was 1.49 million units, down 0.7% from July and down 18.6% from one year ago.  Total unsold inventory was at a 3-month supply at the current sales pace with properties remaining on the market for around 22 days. The median existing-home price for all housing types was $ 310,600, up 11.4% from August, 2019.

“Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market…Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery.”  Said Lawrence Yun, NAR’s chief economist.

Click here to read the full report at the National Association of Realtors.

 

The post Existing Home Sales at Highest Level Since December 2006 appeared first on Real Estate Investing Today.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Scroll to Top