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Home Prices Hold Their Own As Existing Home Sales Fall
By admin | July 26, 2007
There was mixed news on the existing housing front in last month. The monthly survey by the National Association of Realtors (NAR) ® showed the sales of existing homes, including single-family houses, townhouses, condos, and co-ops declined 3.8 percent off of the pace in May to a seasonally adjusted annual rate of 5.75 million units. This is a decline of 11.4 percent from annualized June 2006 sales of 6.49 million units.
"Home buyers have been getting mixed signals about the housing market, which is causing some of them to hesitate," Lawrence Yun, NAR senior economist, said. Two bright spots in the June report are...
Topics: Mortgage News |