“Clearly the home sales are settling down but above pre-pandemic conditions,” Lawrence Yun, NAR’s chief economist, said on a call with reporters.
SALES of previously-owned homes in the United States fell in August, suggesting that demand is moderating as lean inventory and high prices squeezed out some buyers.
Contract closings decreased 2% from the prior month to an annualized 5.88 million, in line with economists’ estimates, figures from the National Association of Realtors (NAR) showed on Wednesday.
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