Existing Home Sales Slide Despite Lower Mortgage Rates

Existing home sales fell to a 10-month low in August despite easing mortgage rates and improved inventory, according to the National Association of Realtors (NAR). Home sales remained sluggish as the lock-in effect kept home prices elevated. Meanwhile, the share of first-time buyer in August dropped to a record low. However, we expect increased activity…

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Existing Home Sales Continued to Pull Back Amid Record High Prices

Existing home sales fell for the fourth straight month in June due to lingering high mortgage rates and record-high prices, according to the National Association of Realtors (NAR). Although low resale inventory continued to push prices to another record high, the months’ supply of inventory continued to increase and reached its highest level since May…

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