California Home Sales Down 18.9% YoY in August

ByAudInsights.blog

Housing economist Tom Lawler expects the National Association of Realtors (NAR) to report sales of 4.07 million SAAR for August. In August, sales in local housing markets were down 12.1% YoY, which is a slightly smaller decline compared to July. This smaller decline can be attributed to the fact that sales were steadily declining last year due to higher mortgage rates, and sales in August are expected to be close to the July sales rate. Several local markets, including Illinois, Miami, New Jersey, and New York, will also report their sales numbers after the NAR release on Thursday.

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Source: 4th Look at Local Housing Markets in August; California Home Sales Down 18.9% YoY in August

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