{"id":16073,"date":"2019-09-23T13:51:42","date_gmt":"2019-09-23T13:51:42","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=16073"},"modified":"2019-09-23T13:51:44","modified_gmt":"2019-09-23T13:51:44","slug":"home-sales-up-for-second-consecutive-month","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/home-sales-up-for-second-consecutive-month\/","title":{"rendered":"Home Sales Up for Second Consecutive Month"},"content":{"rendered":"

Home Sales Up for Second Consecutive Month<\/h1>\n
\"Home<\/a>

Home Sales Up for Second Consecutive Month<\/p><\/div>\n

Existing-home sales rose in August, marking two consecutive months of gains, even as a limited number of homes for sale remains a pressing issue on the market, the National Association of REALTORS\u00ae reported Thursday. Three of the four major regions of the U.S. saw an uptick last month, the West being the only region not to see an increase in sales.<\/p>\n

\u201cAs expected, buyers are finding it hard to resist the current [mortgage] rates,\u201d says Lawrence Yun, NAR\u2019s chief economist. \u201cThe desire to take advantage of these promising conditions is leading more buyers to the market.\u201d<\/p>\n

Total existing-home sales\u2014completed transactions that include single-family homes, townhomes, condos, and co-ops\u2014increased 1.3% in August from July, reaching a seasonally adjusted annual rate of 5.49 million. Sales are up 2.6% from a year ago.<\/p>\n

But while sales are up, housing inventory numbers remain low. It\u2019s \u201cpushing up home prices,\u201d Yun says. \u201cHome builders need to ramp up new housing, as the failure to increase construction will put home prices in danger of increasing at a faster pace than income.\u201d<\/p>\n

Here\u2019s a closer look at additional housing indicators from NAR\u2019s latest housing report:<\/p>\n