Home Resales Down From Record, Price Gains Continue to Roll, Says Nar
U.S. Newswire › August 23, 2005
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WASHINGTON, Aug. 23 /U.S. Newswire/ -- Existing-home sales declined in July from a record in June, but home prices continue to rise at double-digit rates, according to the National Association of Realtors(r).
Total existing-home sales -- including single-family, townhomes, condominiums and co-ops -- slipped 2.6 percent in July to a seasonally adjusted annual rate (see NOTE) of 7.16 million from an upwardly revised record of 7.35 million in June. Sales were 4.7 percent higher than the 6.84 million-unit pace in July 2004.See the full content of this document
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Home Resales Down From Record, Price Gains Continue to Roll, Says Nar
David Lereah, NAR's chief economist, said home sales remain in historic territory. "The level of existing-home sales in July was the third highest on record," he said. "This is a big number any way you slice it, and housing is continuing to stimulate the overall economy." The second highest level of sale...
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