On September 22, 2021, National Association of Realtors® (NAR) reported that regional existing home sales in the Northeast down 1.2% to an annual rate 730,000 homes in August of 2021 from of July 2021, and lower 2.7% from August of 2020. The median price in the Northeast was $407,800 in August 2021, jumped 16.8% from August of 2020.
Home sales in the Midwest declined 1.4% to an annual rate 1.370,000 homes in August of 2021 from of July 2021, and lost 2.1% from August of 2020. The median price in the Midwest was $272,200 in August of 2021, rose 10.5% from August of 2020.
Home sales in the South fell 3.0% to an annual rate 2.550,000 homes in August of 2021 from July of 2021, and decreased 0.8% from August of 2020. The median price in the South was $303,200 in August of 2021, increased 12.8% from August of 2020.
Home sales in the West down 0.8% to an annual rate 1.230,000 homes in August of 2021 from July of 2021, and dropped 1.6% from August of 2020. The median price in the West was $508,300 in August of 2021, gained 11.4% from August of 2020, according to NAR on September 22, 2021.
Lawrence Yun, NAR chief economist, stated "High home prices make for an unbalanced market, but prices would normalize with more supply,"
For more complete information, on NAR's August 2021 regional existing home sales report, please click HERE
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