More Home sale Records
Hello,
Sorry that we haven't had a blog in a few days. We had some technical difficulties that did not allow the blogs to post. Well, the National Association of Realtors, NAR, released August statistics today. Sales of previously owned homes defied expectations and rose to the second highest level on record. Prices also rose at the fastest pace in 26 years.
NAR said that sales of existing homes rose 2% in August to a seasonally adjusted annual rate of 7.29 million units, which was exceed only by the all time high in June of 7.35 million units. Prices rose to a record $220,000 median last month, a gain of 15.8% over the same month last year. The west led the way with sales up 5.6%. No surprise to us living in the Phoenix area, as this market remains strong despite signs of slowing down.
Have a great day.
Adam Tarr and Sharon Kotula
Your Phoenix area Real Estate Source