National sales lift 9 percent in August
Wednesday, September 19, 2012
The nation's existing-home sales continued to improve in August and the national median price rose on a year-over-year basis for the sixth straight month, according to the National Association of REALTORS®.
Total existing-home sales are 9.3 percent higher than in August 2011. Lawrence Yun , NAR chief economist, says favorable buying conditions get the credit.
"The housing market is steadily recovering with consistent increases in both home sales and median pricessd more buyers are taking advantage of excellent housing affordability conditions," he says. "The strengthening housing market is occurring even with difficult mortgage qualifying conditions, which is testament to the sizable stored-up housing demand that accumulated in the past five years."