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Existing Home Sales/Prices Slip Despite More First Time Buyers

Monday, September 21, 2015

Even as the market share of first-time buyers continued to inch up, overall sales of existing homes declined in August.  The National Association of Realtors® (NAR) said today that total existing home sales fell 4.8 percent to a to a seasonally adjusted annual rate of 5.31 million units in August from a slight downward revision of 5.58 million in July.  The dip came on the heels of three straight months of increases and despite slowing price growth.

Existing home sales are completed transactions that include single family homes, townhomes, condominiums, and co-ops.

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"Josh and Eric were great to work with. As first time home buyers, it was no understatement to say we 'knew nothing' about anything involved with the home buying process. Josh was always a phone call away for all of our questions. At one point during the process Josh said to us, 'everything is taken care, just sit back and relax!' He was right! We got into our first home much easier and cheaper than we anticipated. We are very pleased with the entire process and would highly recommend using Josh and Eric when buying a home!"
Bryant & Tayli