NAR: Home Sales Are Down 10.8%

By
Mortgage and Lending with Southwest Funding

The NAR's existing home sales report for the second quarter of 2007 is out today, and it shows a continuing slide in sales volume: existing home sales registered an annualized 5.91 million unit rate, down 10.8 percent from year-ago levels. Only six states showed an increase in sales volume.

Median prices followed sales volume, dropping 1.5 percent from year-ago levels to come in at $223,800.

DFW Loan Officer

Jeff Schraeder

Imperial Mortgage

Comments (1)

R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham
Bank of England (NMLS#418481) - Raleigh, NC
Bob Mitchell (NMLS#1046286)

I'm starting to question these "economic" figures.  I can tell you that, at least here in St. Louis, I would love the market to only be down 10% and prices to only be down 1.5%.  I just sold a house for $160,000 that I had previously sold last August for $178,000 (the buyer lost her job and couldn't complete the transaction).  That looks more like 10% or so to me!

 

Bob Mitchell

ValueList Real Estate Services, Inc. 

Aug 17, 2007 03:57 AM