Home resales in the U.S. rose by 7, 7 % in August to 5.03 million units on an annualized basis , according to figures released Wednesday by the National Association of Realtors (NAR) , the Federation of American real estate agents. Monthly increases were recorded in all regions. Year over year, home resales rose 18.6 % in August.
According to Lawrence Yun , chief economist of NAR , the resumption of trading is explained in particular by improving accessibility and rising rents conditions, but also by the realization of deferred in previous months sales. In addition , investors were more active in the market, especially to absorb the stock of foreclosed properties . In August , the share of investors represented 22 % of total buyers, against 18 % in July. The share of first-time buyers remains stable at 32 %.
The median sale price stood at $ 168,300 in August , down 5.1 % year on year . Distress sales accounted for 31 % of total sales in August , against 29 % in July and 34% in August 2013.
The inventory of homes for sale in late August decreased by 3 % to 3.58 million units , representing a supply of 8.5 months at the current rate of sales ( against 9.5 months in July).
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