FOREX TradingCharts.com

Financial News: U.S. Existing Home Sales Jump To Nearly 14-Year

U.S. Existing Home Sales Jump To Nearly 14-Year High In August

09/22/2020 - 11:25:00 (RTTNews)

(RTTNews) - Existing home sales in the U.S. climbed to their highest level in nearly fourteen years in the month of August, according to a report released by the National Association of Realtors on Tuesday.

NAR said existing home sales jumped 2.4 percent to an annual rate of 6.000 million in August after skyrocketing by 24.7 percent to a rate of 5.860 million in July. The continued increase in sales matched economist estimates.

With the sharp increase, existing home sales reached their highest level since December of 2006.

"Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market," said Lawrence Yun, NAR's chief economist.

He added, "Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery."

The report said the median existing-home price for all housing types in August was $310,600, up 11.4 percent from $278,800 in August of 2019.

NAR said total housing inventory at the end of August totaled 1.49 million units, down 0.7 percent from July and down 18.6 percent from one year ago

The unsold inventory represents 3.0 months of supply at the current sales pace, down from 3.1 months in July and down from 4.0 months in August of 2019.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. New Home Sales Unexpectedly Tumble 3.5% In September (02 hr(s), 0 min(s),51 sec(s) ago)
(RTTNews) - New home sales in the U.S. unexpectedly showed a sharp decrease in the month of Septem ...Full Story»

German Economy To Recover At Slower Pace (03 hr(s), 53 min(s), 51 sec(s) ago)
(RTTNews) - The German economic recovery is likely to continue in the current quarter, albeit at a ...Full Story»

German Ifo Business Morale Weakens For First Time In 6 Months (04 hr(s), 31 min(s), 51 sec(s) ago)
(RTTNews) - German business sentiment weakened in October as leaders were more worried about comin ...Full Story»

Czech Economic Confidence Falls In October (05 hr(s), 01 min(s), 51 sec(s) ago)
(RTTNews) - The Czech Republic's economic confidence decreased in October, survey results from ...Full Story»

Turkey Capacity Utilization Rises In October (05 hr(s), 05 min(s), 51 sec(s) ago)
(RTTNews) - Turkey's manufacturing capacity utilization rate increased in October, figures fro ...Full Story»

Denmark Retail Sales Fall For Third Month In September (05 hr(s), 24 min(s), 51 sec(s) ago)
(RTTNews) - Denmark retail sales fell for the third straight month in September, figures from the ...Full Story»

Amended: German Ifo Business Confidence Weakens In October (06 hr(s), 29 min(s), 51 sec(s) ago)
(RTTNews) - Corrected third and fourth paragraphs German business sentiment weakened in Octo ...Full Story»

German Ifo Business Confidence Weakens In October (06 hr(s), 57 min(s), 51 sec(s) ago)
(RTTNews) - German business sentiment weakened in October, reports said citing survey data from if ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. New Home Sales Unexpectedly Tumble 3.5% In September

10/26/2020 - 10:29 AM (RTTNews)
(RTTNews) - New home sales in the U.S. unexpectedly showed a sharp decrease in the month of Septem ...Full Story>>

German Economy To Recover At Slower Pace

10/26/2020 - 08:36 AM (RTTNews)
(RTTNews) - The German economic recovery is likely to continue in the current quarter, albeit at a ...Full Story>>

German Ifo Business Morale Weakens For First Time In 6 Months

10/26/2020 - 07:58 AM (RTTNews)
(RTTNews) - German business sentiment weakened in October as leaders were more worried about comin ...Full Story>>

Czech Economic Confidence Falls In October

10/26/2020 - 07:28 AM (RTTNews)
(RTTNews) - The Czech Republic's economic confidence decreased in October, survey results from ...Full Story>>

Turkey Capacity Utilization Rises In October

10/26/2020 - 07:24 AM (RTTNews)
(RTTNews) - Turkey's manufacturing capacity utilization rate increased in October, figures fro ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.