Team Thayer Property Servicing

Existing-Home Sales Gains May Be Slowing Down While existing-home sales have seen solid gains in 2015, reaching levels not seen since before the crisis seven years ago, the rate of increase may be slowing down, according to data released by Auction.com  on Tuesday. Auction.com's August 2015 Real Estate Nowcast predicted that seasonally adjusted existing-home sales for August will fall between the rates of 5.46 and 5.86 million annual sales, with a targeted number of 5.64 million. Though that would be a 12.9 percent year-over year hike from August 2014 – the largest year-over-year gain for existing-home sales in two years – it would be an increase of only 1 percent from July. “We may be looking at the beginning of a shift in existing-home sales activity,” Auction.com EVP Rick Sharga said. “The volume of sales, while continuing to increase, appears to be slowing down. And home prices, which have consistently appreciated over the past few years, may finally be leveling off.”...