U.S. existing-home sales increased for the first time in five months, as lower mortgage rates and rising supply helped boost market activity. According to the National Association of REALTORS® (NAR), sales of previously owned homes rose 1.3% month-over-month to a seasonally adjusted annual rate of 3.95
million units, exceeding economists’ expectations and ending the downward trend of recent months.
Nationally, total housing inventory edged up 0.8% from the previous month to 1.33 million units heading into August, for a 4.0-month supply at the current sales pace, NAR data shows. Although inventory is up nearly 20% compared to the same time last year, demand continues to outpace supply, putting upward
pressure on sales prices. According to NAR, the nationwide median existing home price rose 4.2% year-over-year to $422,600 at last measure, marking the 13th consecutive month of annual price increases.
Greater Baton Rouge Area Market Statistics
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Livingston Parish Market Statistics