August existing-home sales reach highest level since end of 2006

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Existing-home sales hit three consecutive months of gains in August, reaching a seasonally adjusted annual rate of 6.00 million during the month, according to the National Association of Realtors (NAR). “Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market,” said Lawrence Yun, chief economist for the NAR. “Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery.”

Read the complete Scotsman Guide article here.