Home Sales at 14-Year High; Equity Surging; Refresher on Refi Fee’s Rate Hit

Home Sales at 14-Year High; Equity Surging; Refresher on Refi Fee’s Rate Hit

Existing home sales continued on a roll for the third consecutive month, hitting the highest level in August since December 2006. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhomes, condos, and cooperative apartment were at a seasonally adjusted annual rate of The August numbers came on top of a 24.7 percent rise the prior month and 20.7 percent growth in June. Since May, when the market began to recover from its 3-month long pandemic related tailspin, the pace of sales has risen by 2.2 million units. Analysts had been bullish in their forecasts for the August numbers and didn't miss by much. Those polled by Econoday had expected sales in the range of 5.56 million to 6.44 million with a consensus of 5.97 million units. "Home sales continue