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ABA-Existing Home Sales Drop in August.

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ENPNewswire-September 23, 2021--ABA-Existing Home Sales Drop in August

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Release date- 22092021 - Existing-home sales dropped 2.0% in August to a seasonally adjusted annual rate of 5.88 million, according to the National Association of Realtors (NAR).

Sales fell year-over-year, down 1.5% from August 2020. First-time buyers were responsible for 29% of sales in August, down from 30% in July and 33% in August 2020.

Lawrence Yun, NAR's chief economist, states that sales decreased in August because of nationwide increases in price. 'Although there was a decline in home purchases, potential buyers are out and about searching, but much more measured about their financial limits, and simply waiting for more inventory.'

The total housing inventory in August was 1.29 million units...

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