Sales of existing homes, including single-family, townhomes, condominiums and co-ops, rose 7.6 percent in August but remained below last year’s levels, according to a report from The National Association of Realtors. The median existing-home price was also up, rising 0.8 percent from a year ago. Lawrence Yun, NAR’s chief economist, said home values have been stabilizing over the past year but he expects a slow, gradual recovery because of continued economic uncertainty. Total housing inventory at the end of August was down after months of increases, falling 0.6 percent. More here, here, and here.
Theresa Springer’s Blog
Existing Home Sales Up In August
September 23, 2010
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