Steel Markets
September 19, 2018
Existing Home Sales Flat in August
Written by Sandy Williams
Existing-home sales were flat in August, halting a four-month decline, said the National Association of Realtors. Sales of single-family homes, townhomes, condos and co-ops were at a seasonally adjusted annual rate of 5.34 million last month, down 1.5 percent from a year ago.
“Strong gains in the Northeast and a moderate uptick in the Midwest helped to balance out any losses in the South and West, halting months of downward momentum,” said NAR Chief Economist Lawrence Yun. “With inventory stabilizing and modestly rising, buyers appear ready to step back into the market.”
