US Existing Home Sales Fall for Seventh Straight Month in August as Mortgage Rates Soar

August US existing home sales from the National Association of Realtors fell 0.4% month-over-month to a seasonally adjusted annual rate of 4.80 million (consensus 4.70 million) versus an upwardly revised 4.82 million (from 4.81 million) in July. That is the seventh straight month that existing home sales have fallen. Total sales in August were down 19.9% from a year ago. The last time sales declined for seven consecutive months was between August 2013 and January 2014, according to NAR. Higher interest … Continue reading “US Existing Home Sales Fall for Seventh Straight Month in August as Mortgage Rates Soar”