09/26/2021
"The recent moderation in existing home sales reflects some easing of the buying frenzy that carried over into early 2021," according to Wells Fargo economist Mark Vitner. "The frantic race for space sent prices soaring. We continue to expect the housing market to move back into balance over the next couple of years," Vitner stated
Housing sales in the United States fell in August amid sustained supply shortages, with indications that the housing price spike is drawing to a close