Monday, August 27, 2007

Home Sales Remain Soft in July

Existing home sales for July dipped 9.0% from the same month in 2006 to a seasonally adjusted annualized rate of 5.75 million units, according to the National Association of Realtors. That figure was virtually flat with sales for June.
Single family existing home sales hit a yearly pace of 5 million homes in July, down 9.3% from July of 2006. Through seven months, some 3.5 million existing homes have been sold.
Average price of an existing home in July was $228,900, virtually flat (-0.6%) with the same month last year.
Sales of new single family homes in July were down 10.2% from July, 2006, to a seasonally adjusted annualized pace of 870,000 units, according to the Census Bureau. Median price reported for a single family new home during the month was $239,500, up 0.6% from the same month last year.

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