By Jill Mislinski
Thursday morning's release of the August Existing-Home Sales rose to a seasonally adjusted annual rate of 5.49 million units from the previous month's 5.42M. The Investing.com consensus was for 5.37 million. The latest number represents a 1.3% increase from the previous month and a 2.6% increase year over year.
Here is an excerpt from today's report from the National Association of Realtors.
"Sales are up, but inventory numbers remain low and are thereby pushing up home prices," said Yun. "Homebuilders need to ramp up new housing, as the failure to increase construction