Existing-Home Sales Hit Highest Level Since December 2006
Existing-home sales continued to climb in August, marking three consecutive months of positive sales gains, according to the National Association of Realtors. Each of the four major regions experienced both month-over-month and year-over-year growth, with the Northeast seeing the greatest improvement from the prior month.
“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. “Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery.”