Sales of previously occupied U.S. homes fell for the third month in a row in August, as higher mortgage rates, rising prices and a dearth of properties on the market shut out many would-be homebuyers.
Existing home sales fell 0.7% last month from July to a seasonally adjusted annual rate of 4.04 million, the National Association of Realtors said Thursday. That’s below the 4.10 million pace that economists were expecting, according to FactSet.
Sales slumped 15.3% compared with the same month last year and are down 21% through the first eight months of the year versus the same stretch in 2022.
Stories like this be like… looks like the market is healing!
As if home prices didn’t increase by like 100% in five years and then it drops by 2% this month.
buy the dip!
Well they’re managing to keep people with mortages out of the market, if only they did something to prevent corporations from buying houses with cash
We need to make non-owner occupied houses pay more taxes.
There is a renovated shack down the street from me renting for $3500/m. It sold for under 100k in 2018
