Luxury Valley Homes Arizona Real Estate Blog: September 2016

Home Sales - Soften Further in August 2016

Home sales eased up in August for the second consecutive month despite mortgage rates near record lows as higher home prices and not enough inventory for sale kept some would-be buyers at bay, according to the National Association of Realtors®. Only the Northeast region saw a monthly increase in closings in August, where inventory is currently more adequate.

Regional Breakdown

home sales

Home Sales


Total existing home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 0.9 percent to a seasonally adjusted annual rate of 5.33 million in August from a downwardly revised 5.38 million in July. After last month's decline, sales are at their second-lowest pace of 2016, but are still slightly higher (0.8 percent) than a year ago (5.29 million).
 
Lawrence Yun, NAR chief economist, says [Read more at Home Sales]
Comment balloon 1 commentJane & Jeff Daley, PhD • September 26 2016 01:44PM
Home Sales - Soften Further in August 2016
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