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US home sales down for second month in a row, latest data shows – PropertyWire

US Home Sales Down for Second Month in a Row, Latest Data Shows

Higher home prices and not enough inventory for sale have kept some would-be buyers at bay, according to the index report from the National Association of Realtors. It also shows that only the Northeast region saw a monthly increase in closings in August, where inventory is currently more adequate.

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Existing home sales in the United States unexpectedly slowed in August for the second consecutive month despite mortgage rates near record lows, the latest index data shows. Higher home prices and not enough inventory for sale have kept some would-be buyers at bay, according to the index report from the National Association of Realtors. It …