On September 22, 2021, National Association of Realtors® (NAR) reported that nationwide existing home sales declined 2.0% to annual rate of 5.88 million homes in August of 2021 from 5.99 million homes in July of 2021, and decreased 1.5% from 5.97 million homes from August of 2020.
There were 1.29 million homes supplies of available inventory in August of 2021, lower 1.5% from July of 2021, and fell 13.4% from 1.49 million homes in August of 2020; while, there were 2.6 months available inventory in August of 2021 unchanged from to 2.6 months in July of 2021, but decreased from 3.0 months in August of 2020.
On average it took 17 days to sell a home in August of 2021, unchanged from 17 days in July of 2021, but dropped from 22 days in August 2020.
First time buyers acquired 29.0% of homes in August of 2021, lower from 30.0% in July of 2021, and declined from 33.0% in August of 2020.
Investors purchased 15.0% of homes in August of 2021, same as from 15.0% in July of 2021, but up from 14.0% in August of 2020.
Cash buyers purchased 22.0% of all sales in August of 2021, from 22.0% in July of 2021, but rose from 18.0% in August of 2020, according to NAR on September 22, 2021.
Lawrence Yun, NAR chief economist, stated "Although there was a decline in home purchases, potential buyers are out and about searching, but much more measured about their financial limits, and simply waiting for more inventory."
For more complete information, on NAR's August 2021 existing home sales report, please click HERE
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