
Existing-Home Sales Fell 2.0% in August While Supply Reached a Decade High
NAR reported 3.98 million annualized sales and 4.9 months of inventory, the deepest supply in more than ten years.

NAR reported 3.98 million annualized sales and 4.9 months of inventory, the deepest supply in more than ten years.

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Illustrative residential architecture; not a property discussed in the article.
Original Estate Wire coverage
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Three documents address IDX and VOW filtering under MLS Policy 8.5 and when a broker-to-broker call triggers the one-day listing rule.
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One brokerage added agents at 26% a year; the other lost agents in North America. Shareholders on both sides approved the merger in mid-August.
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Census and HUD recorded 496,000 new houses for sale at the end of May — the inventory side of the equation moved less than the sales side.
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The National Association of Realtors reported a 3.2% monthly gain — the resale market's firmest month of the spring.
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A median of about $440,600 — the highest NAR has recorded — arrived in the same month transaction volume declined.
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NAR's contract-signing index reached 76.8, up 4.8% from a year earlier — a lead indicator that pointed to summer closings holding up.
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The Pending Home Sales Index slipped to roughly 72.5, erasing May's improvement and turning the annual comparison slightly negative.
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The mortgage-backed repeat-sales measure of US house prices edged down on the month — a different picture from record median headlines.
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The median first-time buyer is now 40 years old, the oldest in a series that began in 1981, and baby boomers made up 42% of all buyers.
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The Census and HUD new residential sales report showed builders sitting on the deepest supply overhang in years, with the median price down on the month.
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FHFA's Q2 index found a widening regional split, with Alaska up 8.3% and the Pacific division barely positive.
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Case-Shiller's May index rose 1.1% in nominal terms — well short of inflation, marking a twelfth straight month of real decline.
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Census quarterly data showed ownership down three-tenths from the first quarter, with rental vacancy at its highest sustained level in years.
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NAR reported 3.98 million annualized sales and 4.9 months of inventory, the deepest supply in more than ten years.
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NAR's pending index edged up 0.3% nationally while regional results split sharply, and signings remained about 30% below 2019 levels.
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Redfin’s August index points to modest monthly price growth even as negotiating power shifts toward buyers.
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Nearly half of recent buyers received a seller concession, a sign that price is no longer the only negotiating lever.
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A fresh decline in contract activity shows that affordability pressure continues to restrain the fall market.
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Affordability is sidelining some households while giving active buyers more room to negotiate.
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The balance between buyers and sellers moved further toward purchasers in August, especially across Sun Belt metros.
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