US existing home sales more or less steady in August

Existing home sales in the United States remained virtually unchanged in August, according to data out on Thursday from the National Association of Realtors.

Source: Sharecast

Sales were down 0.2% over the month at a seasonally adjusted annual rate of 4.0m in August, slipping from 4.01m in July but ahead of the 3.96m expected by analysts.

Compared with last August, existing home sales were 1.8% higher.

Inventory levels were down 1.3% month-on-month to 1.53m units, but were still 11.7% ahead of August 2024. That left the equivalent of a 4.6-month supply of unsold inventory, unchanged from the previous month.

"Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory," said NAR chief economist Lawrence Yun.

"However, mortgage rates are declining and more inventory is coming to the market, which should boost sales in the coming months."

Yun said that the upper end of the market should be support by record levels of housing wealth, along with the US stock market currently trading at or close to all-time peaks. Sales of affordable homes, however, continue to be dampened by the lack of inventory.

Transferring your account

Transfer your existing ISAs and Share Dealing Accounts and you could save money. In order to transfer, log in to your existing account and complete the online application form. We’ll do the rest for you. It’s free to transfer (we will not charge you). Please check your current provider to see if they have any charges for transferring.

Transfer to us

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Bank of Scotland is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.

Important legal information

Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

The information contained within this website is provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. This is a solution powered by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd incorporating their prices, data news, charts, fundamentals and investor tools on this site. Terms and conditions apply. Prices and trades are provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd and are delayed by at least 15 minutes.

Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.