What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
Existing Home Sales Pop 8% in August
In August, existing home sales rose 8.1% in the U.S., according to data released Wednesday by the National Association of Realtors (NAR). This represents a significant rebound in pending sales, following two months of declines.
story continues below
loading...story continues above
"Rising inventory and moderating price conditions are bringing buyers back to the market," Lawrence Yun, NAR's chief economist, said in a statement. "Affordability, however, remains challenging as home price gains are roughly three times wage growth."
The DC area did not follow suit with the rest of the country last month, however. Pending home sales fell year-over-year in almost every local jurisdiction.
Look for UrbanTurf's article on the current climate of the real estate market on Friday.
This article originally published at https://dc.urbanturf.com/articles/blog/existing-home-sales-pop-8-in-august/18761.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
A new hotel has been pitched for a development site in Mount Vernon Triangle that has... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro