First American’s proprietary Existing-Home Sales Capacity (EHS-C) model provides a gauge on whether existing-home sales are under capacity or over capacity based on current market fundamentals. For the month of August, the EHS-C rate increased by 0.4 percent compared to July and decreased by 1.1 percent compared to a year ago. The seasonally adjusted, annualized rate (SAAR) of existing-home sales capacity is up 82.1 percent from the low point of sales reached in February 2009.

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