Existing Home Sales Rise

The National Association of Realtors released information yesterday stating that existing home sales rose 2.0% over levels in July, to 7.29 million units. August’s number is just behind June’s 7.35 million-unit record.

Interesting to note, inventory levels rose 3.5% at the end of August to 2.8 million existing homes for sale, which is approximately a 4.7-month supply of homes. Historically speaking, a supply of approximately six months reflects a market that is in balance between buyers and sellers.

Boulder Colorado saw 212 homes sold in the month of August, while inventory stood at 942 homes – Boulder Colorado Real Estate Market Statistics.

It will be interesting to see how the market statistics play out for the remainder of the year, given the recent natural disasters in the Southeast, and the Fed’s raising of interest rates. Stay tuned for more real estate information.