Existing-Home Sales Slow in June but Remain Above Year-Ago Levels
Washington July
22, 2010
With the scheduled closing deadline for the home buyer tax
credits, existing-home sales slowed in June but
remained at relatively elevated levels,
according to the National Association of
Realtors®.
Existing-home sales1, which are completed
transactions that include single-family,
townhomes, condominiums and co-ops, fell 5.1
percent to a seasonally adjusted annual rate of
5.37 million units in June from 5.66 million in
May, but are 9.8 percent higher than the 4.89
million-unit pace in June 2009.
Lawrence Yun, NAR chief economist, said the
market shows uncharacteristic yet understandable
swings as buyers responded to the tax credits.
“June home sales still reflect a tax credit
impact with some sales not closed due to delays,
which will show up in the next two months,” he
said.
more news >>Home Buyer Tax Credit Closing Deadline Extended & Mortgage Rates Continue to Drop
