"Home sales were disappointing again in August, but the recent development of lower mortgage rates coupled with increasing inventory is a powerful combination..."
"The rise in inventory and, more technically, the accompanying months' supply implies home buyers are in a much-improved position to find the right home..."
"However, in areas where supply remains limited, like many markets in the Northeast, sellers still appear to hold the upper hand."
"The median price of an existing home sold in August was $416,700, up 3.1% from the same month in 2023. That is the highest price..."
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