Sunlit RV resort and landscaped grounds — conceptual illustration

U.S. Existing-Home Sales Fall 2% as Inventory Expands: What Investors Should Watch

The National Association of Realtors reported that existing-home sales fell 2.0% month over month in August, to a seasonally adjusted annual rate of 3.98 million. Sales were also down 1.2% from a year earlier.

Meanwhile, unsold inventory increased to 1.62 million homes, equivalent to approximately 4.9 months of supply. The median existing-home price was $429,100, 1.6% above the level a year earlier.

Neutral Investor Takeaway: slower transaction activity combined with rising inventory can change negotiating conditions in individual markets, but national figures should not be assumed to represent every metro area. This creates a useful article focused on acquisitions and development.

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Mortgage Rates Reach 6.76%: How Financing Costs Are Affecting U.S. Property Buyers and Developers

Freddie Mac reported an average 30-year fixed mortgage rate of 6.76% for the week ending September 10, up from 6.71% the previous week. The average 15-year rate was 6.09%.

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3 Cannabis Stocks That Could Soar After Marijuana Rescheduling

The U.S. government recently announced it has rescheduled many medical marijuana products as Schedule III substances (down from Schedule I) and would also be looking at doing the same for recreational pot.

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