Home Sales Slip as Buyers Reevaluate Their Home Search

Some home buyers have decided to put their search on hold as asking prices continue to increase. Existing-home sales which reflect completed transactions for single-family homes, townhomes, condos, and co-ops dropped 2% on a seasonally adjusted annual rate from July to August. Sales are down 1.5% compared to a year ago, the National Association of Realtors® reported Wednesday. All four major regions of the U.S. posted declines in existing-home sales last month.

But many home buyers are still on the hunt and, along with price increases, they’re finding fewer home listings.

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