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Existing-home sales backed up in August, after two consecutive months of increases, according to the National Association of REALTORS® (NAR). Each of the four major U.S. regions experienced declines on both a MoM and YoY basis.

Total existing-home sales decreased by 2.0% from July to a seasonally adjusted annual rate of 5.88 million in August. Year-over-year, sales dropped 1.5% from last year (5.97 million in August 2020).

The White House is launching a new initiative to combat the crisis of homelessness, working with the U.S. Department of Housing and Urban Development (HUD) on a national partnership entitled “House America: An All-Hands-On-Deck Effort to Address the Nation’s Homelessness Crisis.”

The Consumer Financial Protection Bureau (CFPB) recently released a report warning that millions of renters and their families may be at economic risk as federal and state COVID-19 relief programs end.

The Mortgage Bankers Association (MBA) recently announced a new policy initiative, “Building Generational Wealth Through Homeownership,” aimed at providing industry leadership and direction for reducing the racial homeownership gap; developing and supporting policies that support sustainable homeownership for communities of color; and promoting fair, equitable and responsible lending for minority borrowers.