- Analytics
- News and Tools
- Market News
- U.S. existing homes sales decline 4.8% in August
U.S. existing homes sales decline 4.8% in August
The National Association of Realtors released existing homes sales figures in the U.S. on Monday. Sales of existing homes declined 4.8% to a seasonally adjusted annual rate of 5.31 million in August from 5.58 million in July. July's figure was revised down from 5.59 million units.
Analysts had expected an increase to 5.53 million units.
"Sales activity was down in many parts of the country last month - especially in the South and West - as the persistent summer theme of tight inventory levels likely deterred some buyers. The good news for the housing market is that price appreciation the last two months has started to moderate from the unhealthier rate of growth seen earlier this year," the NAR chief economist Lawrence Yun said.
Sales to first-time buyers rose to 32% in August from 28% in July.
Yun noted that "the impact on mortgage rates and overall housing demand will likely not be pronounced" when the Fed will start raising its interest rates.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
