August Home Sales Across The Nation

August Home Sales Across The Nation

Existing-home sales rose 1.7% month-over-month (m/m) in August to an annual rate of 5.48 million - the highest pace in 6 ½ years - compared to Bloomberg's estimated drop to 5.25 million units. July's figure was unrevised at a 5.39 million unit pace. The median existing-home price rose 14.7% from a year ago to $212,100, marking nine consecutive months of double-digit y/y increases, and the strongest since October 2005. Declines in the share of distressed sales
continued to contribute some to the growth in median home prices, accounting for 12% of sales, marking the lowest share since tracking began in October 2008. The supply of homes available for sale rose 0.4% m/m but fell 6.3% y/y to 2.25 million units, equating to 4.9 months of supply at the current sales pace. Single-family home sales rose 1.7% m/m, while multi-family gained 1.6


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