Used Home Sales Up, Prices Down
In August, Existing Home Sales ran at a seasonally adjusted annual rate of 5.03 million. That pace is 7.7% higher than in July, and 18.6% above the year-ago rate. The year-ago numbers were extremely depressed due to the end of the homebuyer tax credit (a bigger issue in July than August, but still an issue). [...]
In August, Existing Home Sales ran at a seasonally adjusted annual rate of 5.03 million. That pace is 7.7% higher than in July, and 18.6% above the year-ago rate. The year-ago numbers were extremely depressed due to the end of the homebuyer tax credit (a bigger issue in July than August, but still an issue). Thus, do not pay to much attention to the year-over-year number.
The August sales rate was far above consensus expectations of a 4.70 million annual rate. The history of used home sales is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards