FOREX TradingCharts.com

Financial News: U.S. Existing Home Sales Pull Back Slightly More

U.S. Existing Home Sales Pull Back Slightly More Than Expected In August

09/22/2021 - 10:49:00 (RTTNews)

(RTTNews) - The National Association of Realtors released a report on Wednesday showing a pullback by U.S. existing home sales in the month of August.

NAR said existing home sales slumped by 2.0 percent to an annual rate of 5.88 million in August after jumping by 2.2 percent to a revised rate of 6.00 million in July.

Economists had expected existing home sales to decrease by 1.7 percent to a rate of 5.89 million from the 5.99 million originally reported for the previous month.

"Sales slipped a bit in August as prices rose nationwide," said NAR's chief economist Lawrence Yun. "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 report said the median existing home price for all housing types was $356,700 in August, down 0.8 percent from $359,500 in July but up 14.9 percent from $310,400 in August of 2020.

Housing inventory at the end of August totaled 1.29 million units, down 1.5 percent from 1.31 million units in July and down 13.4 percent from 1.49 million units a year ago

The unsold inventory represents 2.6 months of supply at the current sales pace, unchanged from July but down from 3.0 months in August of 2020.

"High home prices make for an unbalanced market, but prices would normalize with more supply," Yun said.

The report also showed single-family home sales fell by 1.9 percent to an annual rate of 5.19 million in August, while existing condominium and co-op sales tumbled by 2.8 percent to a rate of 690,000.

On Friday, the Commerce Department is scheduled to release a separate report on new home sales in the month of August.

Economists currently expect new home sales to drop by 1.1 percent to an annual rate of 700,000 in August from a rate of 708,000 in July.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. New Home Sales Spike Much More Than Expected In September (54 min(s), 38 sec(s) ago)
(RTTNews) - New home sales in the U.S. skyrocketed in the month of September, according to a repor ...Full Story»

U.S. Consumer Confidence Unexpectedly Improves In October (01 hr(s), 21 min(s), 38 sec(s) ago)
(RTTNews) - Reflecting easing concerns about the Delta variant of the coronavirus, the Conference ...Full Story»

Hong Kong Exports Growth Eases In September (05 hr(s), 11 min(s), 38 sec(s) ago)
(RTTNews) - Hong Kong's merchandise exports grew at a softer pace in September, data from the ...Full Story»

UK Retailers Expect Sales To Rise Further In November: CBI (05 hr(s), 17 min(s), 38 sec(s) ago)
(RTTNews) - UK retailers expect sales to be above seasonal norms in November, the Distributive Tra ...Full Story»

Spain Producer Price Inflation Fastest Since 1977 (05 hr(s), 30 min(s), 38 sec(s) ago)
(RTTNews) - Spain producer prices grew at the fastest pace since 1977 in September on higher energ ...Full Story»

Eurozone Banks To Tighten Conditions For Housing Loans: ECB Survey (06 hr(s), 06 min(s), 38 sec(s) ago)
(RTTNews) - Eurozone banks plan to tighten their conditions for housing loans further in the fourt ...Full Story»

S. Korea Cuts Fuel Tax By Record 20% (06 hr(s), 27 min(s), 38 sec(s) ago)
(RTTNews) - South Korea's government and the ruling Democratic Party decided to cut the fuel t ...Full Story»

Sweden Producer Price Inflation Accelerates In September (06 hr(s), 47 min(s), 38 sec(s) ago)
(RTTNews) - Sweden's producer prices accelerated for the ninth straight month in September, fi ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. New Home Sales Spike Much More Than Expected In September

10/26/2021 - 10:54 AM (RTTNews)
(RTTNews) - New home sales in the U.S. skyrocketed in the month of September, according to a repor ...Full Story>>

U.S. Consumer Confidence Unexpectedly Improves In October

10/26/2021 - 10:27 AM (RTTNews)
(RTTNews) - Reflecting easing concerns about the Delta variant of the coronavirus, the Conference ...Full Story>>

Hong Kong Exports Growth Eases In September

10/26/2021 - 06:37 AM (RTTNews)
(RTTNews) - Hong Kong's merchandise exports grew at a softer pace in September, data from the ...Full Story>>

UK Retailers Expect Sales To Rise Further In November: CBI

10/26/2021 - 06:31 AM (RTTNews)
(RTTNews) - UK retailers expect sales to be above seasonal norms in November, the Distributive Tra ...Full Story>>

Spain Producer Price Inflation Fastest Since 1977

10/26/2021 - 06:18 AM (RTTNews)
(RTTNews) - Spain producer prices grew at the fastest pace since 1977 in September on higher energ ...Full Story>>

Do not sell my personal information

Copyright © 2021. 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.