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Annual Rate of Existing Home Sales Eclipses 3,000 in August, Prices Up

Posted on September 26, 2016

Annual Rate of Existing Home Sales Eclipses 3,000 in August, Prices Up

Sales of existing single-family homes increased in August when compared to sales in August one year ago. There were 284 single-family home resales in August. That is a 10.9% increase over the 256 homes sold in August, 2016.

The latest numbers contributed to an increase in the annual rate of resales which came in at 3,012. This is a 1.0% increase over the annual rate reported last month and an 4.7% increase when compared to the annual rate reported one year ago.

Comparing the first eight months of this year with January thru August of last year, reports show 2,009 single-family resales in 2015 and 2,175 family resales in 2016. This is a 8.3% increase.

As the chart below shows, the annual rate of resales has increased over the last 12-months from 2,889 to 3,012.realestateaugust

The August report indicates that 12-month average single-family resale prices remain basically flat over the last three months. However, a look at the 3-month average shows that sale prices are rebounding from a downturn that began in June, 2015 and ended in January of this year. The three-month average sales price has increased by 18.1% since January to $229,900 in August.
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One Response to Annual Rate of Existing Home Sales Eclipses 3,000 in August, Prices Up

  1. Franklin Thompson Reply

    September 27, 2016 at 8:26 am

    Does not fair well for a stagnant economy.

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