A brief excerpt:
From housing economist Tom Lawler:
Early Read on Existing Home Sales in August
Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 3.90 million in August, down 2.7% from July’s preliminary pace and down 0.8% from last August’s seasonally adjusted pace. Unadjusted sales should show a larger YOY % decline, reflecting this August’s lower business day count compared to last August’s.
Local realtor/MLS reports suggest that the median existing single-family home sales price last month was up by about 2.2% from a year earlier.
CR Note: The NAR is scheduled to release August Existing Home sales on Thursday, September 25th at 10:00 AM. Last year, the NAR reported sales in August 2024 at 3.93 million SAAR.
There is also an update on Mortgage/MBS Yields and Spreads in the article.