St Louis Mortgage and Real Estate News –
St Louis Loan Audit and Finance News: Home Sales Rose In August
Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia
The housing market received some good news when existing home sales rose in August following a big correction in July, according to the National Association of Realtors (NAR).
Existing home sales, which are completed transactions that include single-family, town-homes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 4.13 million in August from an upwardly revised 3.84 million in July, but remain 19.0 percent below the 5.10 million-unit pace in August 2009.
The national median existing home price for all housing types was $178,600 in August, up 0.8 percent from a year ago according to principal reduction program experts.
Distressed homes rose to 34 percent of (more…)
