Summary
WASHINGTON, Feb. 28 /U.S. Newswire/ -- Sales of existing homes were down in January while home prices continued to appreciate at double-digit rates, according to the National Association of Realtors(r).
Total existing-home sales -- including single-family, townhomes, condominiums and co-ops -- declined 2.8 percent to a seasonally adjusted annual rate (see note 1) of 6.56 million units in January from an upwardly revised pace of 6.75 million in December. Sales were 5.2 percent below the 6.92 million-unit level in January 2005.See the full content of this document
Extract
January Existing-Home Sales Ease, Says Nar
David Lereah, NAR's chief economist, said sales are tracking the trend in the association's Pending Home Sales Index. "Our leading indicator, based on pending sales, has been trending down since hitting a record last August," he said. "In the wake of interest rates peaking in November, I expect we are in a bit ...
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