Home sales increased year over year.
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.49 million in August, up 1.3% from July and 2.6% above the 5.35 million sales pace from a year ago.
Home prices have continued to increase year-over-year.
The median home price decreased to $278,200 in August, down 0.8% from July. The median home price has increased by approximately $12,600 in the past year alone.
Inventory – Month’s Supply
There was a 4.0-month supply of housing inventory in August 2019, down 4.8% from July. The total number of available homes for sale has decreased by 7.0% compared to August of last year.
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