KBH - Is Supply And Demand Broken? US Home Sales Volume Decreases While Value Increases | Benzinga
Existing home sales saw a decline of 0.7% in August, reaching a seasonally adjusted annual rate of 4.04 million, marking a 15.3% drop from the previous year.
The dip in home sales comes as median existing-home sales prices climbed 3.9% from a year ago to $407,100, marking the third consecutive month when median sales price broke the $400,000 level, according to data issued by the National Association of Realtors on Thursday.
Housing Type Breakdown: The Midwest was the only region to record an improvement in sales, whereas sales in the South and West saw a decline, and the Northeast remained unchanged. Every region observed a decline in year-over-year sales, with single-family home sales falling to an annual rate of 3.6 million in August, a decrease from both July and the previous year.
Meanwhile, condominium and co-op sales reached 440,000 units in ...