Prospective buyers visit an open house in West Hempstead, New York. Raychel Brightman/Newsday RM via Getty Images Existing home sales fell in August, according to the National Association of Realtors. While the market seems to be cooling off, it's partly because prices are too high for many buyers. The median existing home jumped to $356,700 last month, a 14.9% increase from 2020. See more stories on Insider's business page. The housing market cooled off slightly last month, but that's not exactly good news for homebuyers.
Similar Stories to The Housing Market Is Cooling Down But Not For A Good Reason: First-time Homebuyers Have Been Priced Out on Bing News
ahartmans@businessinsider.com (Avery Hartmans), Business Insider
Sat, 09/25/2021 - 4:44am
Topics: west hempstead york raychel brightman/newsday rm getty images existing july lawrence yun september ruben gonzalez keller williams redfin home builders business insider august national association realtor insider nar so cooling good housing market first-time homebuyers month sales prices debt homes high median longer report partly chief dip starting increase house jumped fell inventory remain economist wars price slightly bidding million people months affordability
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