Sales of previously owned houses in the US increased 2.4% from the previous month to a seasonally adjusted annual rate of 6 million units in August of 2020. That is the highest reading since December of 2006 and in line with expectations. Single family sales went up 1.7% and those of condos 8.6%. Home sales have climbed in every region for the third straight month. There were 1.49 million previously owned homes on the market in August, down from 1.83 million a year ago. The median existing house price increased to a record USD 310,600. Year-on-year, existing home sales went up 10.5%. "Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market. Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery. The need for housing will grow even further, especially in areas that are attractive to those who can work from home", Lawrence Yun, NAR’s chief economist said.
Existing Home Sales in the United States averaged 3989.37 Thousand from 1968 until 2020, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970. This page provides the latest reported value for - United States Existing Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Existing Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: National Association of Realtors
Existing Home Sales in the United States is expected to be 5900.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Existing Home Sales in the United States to stand at 6000.00 in 12 months time. In the long-term, the United States Existing Home Sales is projected to trend around 5200.00 Thousand in 2021 and 4700.00 Thousand in 2022, according to our econometric models.