August Home sales take a dip

By
Real Estate Agent with RE/MAX SUBURBAN
Sales of existing U.S. homes unexpectedly fell last month for the first time since March.

Purchases dropped 2.7 percent in August to a 5.1 million annual rate, while the median priced dropped 12.5% from August 2008.

As can be seen in the data below the lower end of the market (much of which is distressed) has seen the most activity Year-Over-Year, while the mid-upper end of the market has seen sharp declines in activity.

August Regional Existing Home Sales by Price Class

Existing Single Family Home Sales

Year-Over Year Percent

REGION$0-100K$100-250K$250-500K$500-750K$750-1M$1M-2M$2M+
Northeast8.8%14.4%0.0%-13.4%-18.4%-23.7%-54.3%
Midwest3.8%2.2%-8.1%-32.2%-27.5%-31.5%-45.7%
South20.9%-0.2%-11.0%-12.5%-6.8%-17.3%-47.7%
West152.3%10.8%-16.6%-10.9%-33.6%-20.9%-8.0%
U.S.20.9%4.9%-9.6%-14.7%-22.5%-22.1%-39.1%
August Regional Existing Home Sales by Price Class
Existing Single Family Home Sales

Sales Distribution (August 2009)

REGION$0-100K$100-250K$250-500K$500-750K$750-1M$1M-2M$2M+
U.S20.9%48.3%23.1%5.3%1.3%1.0%0.2%

Eric P. Egeland
RE/MAX UNITED
DeerfieldsAgent.com

Comments (2)

Judy Greenberg
Coldwell Banker Long Grove - Buffalo Grove, IL
Coldwell Banker - Buffalo Grove - Long Grove Homes

Great post as usual Eric.  What do you think about the rest of the fall and winter

Sep 28, 2009 12:36 AM
Eric Egeland
RE/MAX SUBURBAN - Libertyville, IL
SFR, e-PRO, CDPE

Thanks Judy.

I think its more of the same coming.

Sep 28, 2009 12:24 PM

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