housing marker: Existing Home Supply Down 40% In Last 6 Months
- 02/24/11 04:59 AM
Home resales rose another 2.7 percent last month, according to the National Association of REALTORS® monthly Existing Home Sales report. An “existing home” is a home that’s been previously occupied and is not considered new construction. The number of existing homes sold on a rolling 12-month basis is now at its highest point since May 2010, the month before the federal homebuyer tax credit ended. It’s also up some 40% since July 2010, the month after the tax credit ended. But that’s not the biggest story in the Existing Home Sales report. The precipitous decline in home inventory deserves more attention. … (0 comments)
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Home resales rose another 2.7 percent last month, according to the National Association of REALTORS® monthly Existing Home Sales report.
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