10/02/2024
Check out this graph of U.S. existing home sales for August. Down 6% from last year and down 27% from the 10 year historical average.
For further context, total existing home sales for 2024 are down 22% from the 10 year historical average. At this rate, the total for the year would be about 4.04 million.
In other news, the rate of change is pretty constant (low and slow). We're entering a seasonally slower period where the slope of the line goes down. I'll be watching to see if the change in interest rates causes any change.
Big Thx to Mike Delprete for always bringing amazing insights and value to the real estate industry.
